Rakuten Securities Inc. Boosts Stake in MongoDB, Inc. (NASDAQ:MDB)

Rakuten Securities Inc. lifted its position in MongoDB, Inc. (NASDAQ:MDB) by 48.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 493 shares of the company’s stock after acquiring an additional 161 shares during the period. Rakuten Securities Inc.’s holdings in MongoDB were worth $115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC raised its holdings in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Geode Capital Management LLC grew its position in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the period. Amundi increased its stake in shares of MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after acquiring an additional 321,186 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in MongoDB during the fourth quarter worth about $90,478,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of MongoDB stock opened at $196.12 on Thursday. The stock has a market capitalization of $14.61 billion, a PE ratio of -71.58 and a beta of 1.30. MongoDB, Inc. has a 1-year low of $173.13 and a 1-year high of $387.19. The company’s fifty day simple moving average is $259.13 and its 200-day simple moving average is $273.09.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the firm posted $0.86 EPS. As a group, research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares of the company’s stock, valued at $300,130,293.78. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $279.99, for a total value of $2,333,716.65. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $60,840,147.06. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,314 shares of company stock worth $12,981,833. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. China Renaissance initiated coverage on shares of MongoDB in a research note on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Wedbush reduced their price objective on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Cantor Fitzgerald initiated coverage on MongoDB in a report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 target price on the stock. Barclays reduced their price target on MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Piper Sandler lowered their price target on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.87.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.