Sumitomo Mitsui Trust Group Inc. Acquires 1,205 Shares of MongoDB, Inc. (NASDAQ:MDB)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,135 shares of the company’s stock after acquiring an additional 1,205 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of MongoDB worth $47,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MFA Wealth Advisors LLC bought a new stake in shares of MongoDB in the 2nd quarter worth approximately $25,000. J.Safra Asset Management Corp increased its position in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares during the last quarter. Quarry LP raised its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of MongoDB during the 2nd quarter valued at $35,000. Finally, GAMMA Investing LLC grew its stake in shares of MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Oppenheimer upped their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a report on Friday, August 30th. Citigroup boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Finally, Truist Financial boosted their price objective on MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $336.54.

MongoDB Price Performance

MDB stock opened at $279.77 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. The firm has a 50-day moving average of $278.14 and a 200 day moving average of $275.57. The company has a market cap of $20.67 billion, a P/E ratio of -92.64 and a beta of 1.15.

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

Insider Transactions at MongoDB

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. The trade was a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the transaction, the director now owns 1,127,006 shares in the company, valued at approximately $303,807,007.42. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,281 shares of company stock valued at $6,657,121 in the last three months. 3.60% of the stock is currently owned by company insiders.

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.