Principal Financial Group Inc. Has $1.65 Million Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Principal Financial Group Inc. grew its stake in MongoDB, Inc. (NASDAQ:MDB) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,095 shares of the company’s stock after purchasing an additional 160 shares during the quarter. Principal Financial Group Inc.’s holdings in MongoDB were worth $1,648,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in MongoDB by 12.9% during the 1st quarter. Advisors Asset Management Inc. now owns 324 shares of the company’s stock worth $116,000 after acquiring an additional 37 shares during the last quarter. Atria Investments Inc boosted its position in shares of MongoDB by 1.2% during the first quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock worth $1,169,000 after purchasing an additional 39 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after buying an additional 40 shares during the period. Taylor Frigon Capital Management LLC increased its position in shares of MongoDB by 0.4% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock valued at $2,475,000 after buying an additional 42 shares in the last quarter. Finally, Tanager Wealth Management LLP raised its stake in MongoDB by 4.7% during the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock worth $259,000 after buying an additional 43 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 approximately $23,313,925.17. This represents a 5.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 1,319 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $285.92, for a total transaction of $377,128.48. Following the completion of the transaction, the director now directly owns 87,744 shares in the company, valued at approximately $25,087,764.48. This represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,600 shares of company stock worth $7,034,249. Company insiders own 3.60% of the company’s stock.

MongoDB Trading Up 5.4 %

NASDAQ MDB opened at $332.50 on Friday. The company has a market cap of $24.56 billion, a PE ratio of -110.24 and a beta of 1.15. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The stock has a 50 day moving average of $278.10 and a 200-day moving average of $272.88. 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 announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.63) earnings per share. On average, equities research analysts anticipate that MongoDB, Inc. will post -2.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MDB shares. Piper Sandler increased their price target on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Barclays increased their target price on MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup lifted their price target on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Mizuho increased their price objective on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Wedbush raised shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.54.

MongoDB 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.