PFA Pension Forsikringsaktieselskab Acquires New Position in MongoDB, Inc. $MDB

PFA Pension Forsikringsaktieselskab acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 35,840 shares of the company’s stock, valued at approximately $15,097,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Clark Financial Services Group Inc. BD lifted its position in shares of MongoDB by 1.5% during the 4th quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company’s stock valued at $702,000 after acquiring an additional 25 shares during the period. True Wealth Design LLC lifted its position in shares of MongoDB by 9.4% during the 4th quarter. True Wealth Design LLC now owns 419 shares of the company’s stock valued at $176,000 after acquiring an additional 36 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of MongoDB by 3.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock valued at $342,000 after acquiring an additional 40 shares during the period. Whittier Trust Co. lifted its position in shares of MongoDB by 4.3% during the 4th quarter. Whittier Trust Co. now owns 976 shares of the company’s stock valued at $425,000 after acquiring an additional 40 shares during the period. Finally, Savvy Advisors Inc. lifted its position in shares of MongoDB by 5.0% during the 4th quarter. Savvy Advisors Inc. now owns 928 shares of the company’s stock valued at $389,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Needham & Company LLC reduced their price target on shares of MongoDB from $500.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Citigroup reduced their price target on shares of MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Guggenheim reiterated a “buy” rating and set a $475.00 price target on shares of MongoDB in a research report on Tuesday, April 14th. Finally, Royal Bank Of Canada reduced their price target on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Twenty-six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $361.97.

MongoDB Price Performance

Shares of MDB opened at $263.46 on Monday. The firm has a 50 day simple moving average of $264.86 and a 200-day simple moving average of $337.75. MongoDB, Inc. has a 1-year low of $169.26 and a 1-year high of $444.72. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of -299.39 and a beta of 1.48.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. During the same period last year, the company posted $1.28 EPS. The company’s revenue was up 26.8% on a year-over-year basis. On average, equities analysts expect that MongoDB, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the transaction, the director directly owned 24,093 shares of the company’s stock, valued at $6,007,107.69. This trade represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $236.89, for a total transaction of $1,895,120.00. Following the transaction, the director directly owned 1,005,316 shares of the company’s stock, valued at approximately $238,149,307.24. This trade represents a 0.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 13,566 shares of company stock valued at $3,294,891. Corporate insiders own 3.10% of the company’s stock.

MongoDB Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.