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

Principal Financial Group Inc. boosted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,095 shares of the company’s stock after purchasing an additional 160 shares during the period. Principal Financial Group Inc.’s holdings in MongoDB were worth $1,648,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares in the last quarter. Geode Capital Management LLC boosted its position in MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after acquiring an additional 34,814 shares during the period. Westfield Capital Management Co. LP grew its stake in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares during the period. Finally, Holocene Advisors LP lifted its position in shares of MongoDB by 22.6% in the third quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after purchasing an additional 66,730 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Trading Up 0.7 %

Shares of MDB stock opened at $246.39 on Friday. The firm’s fifty day simple moving average is $284.50 and its 200 day simple moving average is $268.24. The firm has a market capitalization of $18.35 billion, a P/E ratio of -89.92 and a beta of 1.17. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the prior year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities research analysts anticipate that MongoDB, Inc. will post -1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MDB. Needham & Company LLC upped their price objective on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Tigress Financial upped their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group upped their target price on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Citigroup lifted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $366.14.

Insider Buying and Selling

In other news, Director Hope F. Cochran sold 1,175 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $266.99, for a total transaction of $313,713.25. Following the completion of the transaction, the director now directly owns 17,570 shares of the company’s stock, valued at approximately $4,691,014.30. This trade represents a 6.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $21,510,229.95. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,879 shares of company stock valued at $6,985,212 over the last ninety days. 3.60% of the stock is owned by company insiders.

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.