Nomura Asset Management Co. Ltd. Increases Stake in MongoDB, Inc. (NASDAQ:MDB)

Nomura Asset Management Co. Ltd. raised its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,229 shares of the company’s stock after buying an additional 2,341 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in MongoDB were worth $7,091,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MDB. Jennison Associates LLC boosted its stake in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after acquiring an additional 7,526 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of MongoDB by 22.6% in the third quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after purchasing an additional 66,730 shares during the period. Finally, Blair William & Co. IL increased its position in MongoDB by 16.4% during the second quarter. Blair William & Co. IL now owns 315,830 shares of the company’s stock worth $78,945,000 after purchasing an additional 44,608 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Trading Down 2.9 %

Shares of NASDAQ:MDB opened at $288.61 on Friday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The company’s 50 day moving average is $293.13 and its two-hundred day moving average is $269.12. The company has a market cap of $21.32 billion, a PE ratio of -95.57 and a beta of 1.17. 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 posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. Equities analysts predict that MongoDB, Inc. will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Dev Ittycheria sold 3,556 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $911,225.00. Following the sale, the chief executive officer now owns 219,875 shares in the company, valued at approximately $56,342,968.75. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock worth $7,611,849 over the last 90 days. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Loop Capital increased their price target on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Morgan Stanley raised their target price on MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up previously from $320.00) on shares of MongoDB in a research note on Tuesday. Needham & Company LLC raised their price objective on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Mizuho upped their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.08.

MongoDB Company Profile

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.