Legal & General Group Plc Has $108.72 Million Stake in MongoDB, Inc. $MDB

Legal & General Group Plc raised its stake in MongoDB, Inc. (NASDAQ:MDB) by 14.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 517,754 shares of the company’s stock after acquiring an additional 64,051 shares during the quarter. Legal & General Group Plc owned approximately 0.63% of MongoDB worth $108,723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers lifted its stake in MongoDB by 35.7% in the 1st quarter. Cetera Investment Advisers now owns 19,424 shares of the company’s stock valued at $3,407,000 after purchasing an additional 5,108 shares during the last quarter. Assetmark Inc. increased its holdings in shares of MongoDB by 13.6% during the first quarter. Assetmark Inc. now owns 28,703 shares of the company’s stock worth $5,035,000 after buying an additional 3,436 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of MongoDB during the first quarter worth $1,597,000. TD Asset Management Inc lifted its stake in shares of MongoDB by 0.7% in the 1st quarter. TD Asset Management Inc now owns 60,052 shares of the company’s stock valued at $10,533,000 after acquiring an additional 419 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of MongoDB by 30.4% during the 1st quarter. LPL Financial LLC now owns 47,830 shares of the company’s stock valued at $8,389,000 after acquiring an additional 11,160 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Cantor Fitzgerald upped their target price on MongoDB from $312.00 to $406.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Scotiabank boosted their price target on MongoDB from $280.00 to $320.00 and gave the stock a “sector perform” rating in a report on Friday, September 19th. Oppenheimer upped their price objective on MongoDB from $325.00 to $385.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Citizens Jmp lifted their target price on shares of MongoDB from $375.00 to $435.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 4th. Finally, Morgan Stanley boosted their target price on shares of MongoDB from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $355.39.

MongoDB Price Performance

Shares of MDB stock opened at $330.63 on Tuesday. The stock has a market capitalization of $26.90 billion, a PE ratio of -337.38 and a beta of 1.52. The business’s 50 day simple moving average is $332.71 and its 200 day simple moving average is $263.99. MongoDB, Inc. has a one year low of $140.78 and a one year high of $385.44.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Tuesday, August 26th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.04). MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The firm had revenue of $591.40 million during the quarter, compared to analyst estimates of $553.23 million. During the same quarter last year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 25,000 shares of the company’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $320.15, for a total transaction of $8,003,750.00. Following the sale, the director owned 1,079,316 shares of the company’s stock, valued at approximately $345,543,017.40. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 33,320 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the sale, the chief executive officer owned 203,237 shares of the company’s stock, valued at approximately $61,233,275.73. The trade was a 14.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 124,492 shares of company stock worth $39,833,319 over the last quarter. Company insiders own 3.10% of the company’s stock.

About MongoDB

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.