Russell Investments Group Ltd. Boosts Stake in MongoDB, Inc. (NASDAQ:MDB)

Russell Investments Group Ltd. raised its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 7.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 52,804 shares of the company’s stock after purchasing an additional 3,688 shares during the period. Russell Investments Group Ltd.’s holdings in MongoDB were worth $12,303,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDB. Norges Bank bought a new position in shares of MongoDB during the 4th quarter valued at approximately $189,584,000. Raymond James Financial Inc. bought a new position in shares of MongoDB in the fourth quarter worth approximately $90,478,000. Amundi boosted its position in shares of MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after purchasing an additional 321,186 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after purchasing an additional 294,228 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after purchasing an additional 181,962 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MDB shares. Citigroup cut their price target on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. UBS Group set a $350.00 target price on MongoDB in a research report on Tuesday, March 4th. Wedbush lowered their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Bank of America cut their price objective on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Barclays cut their target price on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.84.

Insider Transactions at MongoDB

In other MongoDB news, CAO Thomas Bull sold 301 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at $2,529,103.50. This represents a 2.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the sale, the chief financial officer now directly owns 6,406 shares of the company’s stock, valued at $1,109,903.56. This represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,060 shares of company stock worth $13,461,875. 3.60% of the stock is currently owned by insiders.

MongoDB Trading Down 6.0 %

Shares of NASDAQ:MDB opened at $161.10 on Friday. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $387.19. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of -58.80 and a beta of 1.49. The firm’s 50-day moving average is $222.73 and its 200 day moving average is $256.90.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates 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 business 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 company posted $0.86 EPS. As a group, equities analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

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.