Sumitomo Mitsui Trust Group Inc. Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Sumitomo Mitsui Trust Group Inc. increased its stake in MongoDB, Inc. (NASDAQ:MDB) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,135 shares of the company’s stock after purchasing an additional 1,205 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in MongoDB were worth $47,077,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MDB. MFA Wealth Advisors LLC bought a new position in MongoDB in the second quarter worth approximately $25,000. J.Safra Asset Management Corp increased its stake in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares in the last quarter. Quarry LP raised its holdings in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the period. Hantz Financial Services Inc. bought a new stake in MongoDB during the second quarter valued at about $35,000. Finally, GAMMA Investing LLC increased its position in MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after buying an additional 93 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 3,556 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $911,225.00. Following the transaction, the chief executive officer now directly owns 219,875 shares of the company’s stock, valued at $56,342,968.75. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,281 shares of company stock valued at $6,657,121 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Piper Sandler upped their price target on shares of MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Barclays raised their price objective on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC increased their price target on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Bank of America boosted their price objective on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $336.54.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $279.77 on Friday. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The firm’s 50-day moving average is $278.14 and its 200 day moving average is $275.57. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of -92.64 and a beta of 1.15. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.63) EPS. Research analysts predict that MongoDB, Inc. will post -2.39 EPS for the current 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.