Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in MongoDB, Inc. (NASDAQ:MDB)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in MongoDB, Inc. (NASDAQ:MDB) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,466 shares of the company’s stock after acquiring an additional 5,056 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of MongoDB worth $14,405,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MDB. B.O.S.S. Retirement Advisors LLC acquired a new stake in MongoDB in the fourth quarter valued at approximately $606,000. Geode Capital Management LLC lifted its holdings in shares of MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of MongoDB in the 4th quarter worth $3,515,000. Nisa Investment Advisors LLC grew its stake in MongoDB by 428.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock worth $1,340,000 after buying an additional 4,665 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after buying an additional 372 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MDB shares. Citigroup restated a “buy” rating on shares of MongoDB in a research note on Thursday, March 6th. Scotiabank restated a “sector perform” rating and set a $240.00 price target (down previously from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Needham & Company LLC lowered their price objective on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Royal Bank of Canada cut their target price on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Macquarie lowered their price target on MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $319.87.

Insiders Place Their Bets

In other news, CFO Michael Lawrence Gordon sold 1,245 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $291,442.05. Following the transaction, the chief financial officer now directly owns 79,062 shares of the company’s stock, valued at approximately $18,507,623.58. This trade represents a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the sale, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,139 shares of company stock worth $11,328,869. Corporate insiders own 3.60% of the company’s stock.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $175.40 on Tuesday. The firm has a fifty day moving average of $244.01 and a 200 day moving average of $265.11. The firm has a market cap of $14.24 billion, a PE ratio of -64.01 and a beta of 1.30. MongoDB, Inc. has a one year low of $170.85 and a one year high of $387.19.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the prior year, the firm earned $0.86 EPS. On average, equities analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

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.