Principal Financial Group Inc. Has $16.31 Million Holdings in MongoDB, Inc. (NASDAQ:MDB)

Principal Financial Group Inc. increased its stake in shares of MongoDB, Inc. (NASDAQ:MDBGet Rating) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,837 shares of the company’s stock after purchasing an additional 6,689 shares during the period. Principal Financial Group Inc.’s holdings in MongoDB were worth $16,306,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MDB. Park Avenue Securities LLC acquired a new stake in shares of MongoDB during the first quarter worth $232,000. FDx Advisors Inc. acquired a new position in MongoDB in the first quarter valued at about $260,000. Arizona State Retirement System grew its stake in MongoDB by 4.7% in the first quarter. Arizona State Retirement System now owns 16,579 shares of the company’s stock valued at $7,354,000 after acquiring an additional 750 shares during the period. abrdn plc grew its stake in MongoDB by 5.8% in the first quarter. abrdn plc now owns 6,704 shares of the company’s stock valued at $3,009,000 after acquiring an additional 365 shares during the period. Finally, Shell Asset Management Co. grew its stake in MongoDB by 6.4% in the first quarter. Shell Asset Management Co. now owns 1,887 shares of the company’s stock valued at $837,000 after acquiring an additional 113 shares during the period. 89.85% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

MDB opened at $150.77 on Thursday. MongoDB, Inc. has a 52-week low of $135.15 and a 52-week high of $570.58. The firm has a market capitalization of $10.36 billion, a PE ratio of -28.13 and a beta of 1.07. The company has a debt-to-equity ratio of 1.70, a quick ratio of 4.02 and a current ratio of 4.02. The business’s 50-day simple moving average is $182.68 and its 200 day simple moving average is $251.48.

MongoDB (NASDAQ:MDBGet Rating) last released its earnings results on Wednesday, August 31st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.17). MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The company had revenue of $303.66 million for the quarter, compared to the consensus estimate of $282.31 million. During the same quarter in the previous year, the company posted ($1.15) EPS. The business’s revenue was up 52.8% on a year-over-year basis. As a group, sell-side analysts expect that MongoDB, Inc. will post -5.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Redburn Partners raised MongoDB from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 18th. KeyCorp assumed coverage on MongoDB in a research note on Monday. They issued an “overweight” rating and a $215.00 target price for the company. Credit Suisse Group decreased their target price on MongoDB from $500.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Needham & Company LLC decreased their target price on MongoDB from $350.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, September 1st. Finally, The Goldman Sachs Group reduced their price objective on MongoDB to $430.00 in a research report on Tuesday, September 6th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $345.90.

Insider Buying and Selling

In other MongoDB news, insider Thomas Bull sold 502 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $198.84, for a total value of $99,817.68. Following the sale, the insider now owns 16,602 shares in the company, valued at $3,301,141.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other MongoDB news, Director Archana Agrawal sold 663 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $345.55, for a total value of $229,099.65. Following the sale, the director now owns 2,080 shares in the company, valued at $718,744. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Bull sold 502 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $198.84, for a total value of $99,817.68. Following the completion of the sale, the insider now owns 16,602 shares in the company, valued at approximately $3,301,141.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,665 shares of company stock worth $19,034,603. Corporate insiders own 5.70% of the company’s stock.

About MongoDB

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MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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Institutional Ownership by Quarter for MongoDB (NASDAQ:MDB)

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