MongoDB, Inc. (NASDAQ:MDB) Shares Purchased by Russell Investments Group Ltd.

Posted by on May 13th, 2023

Russell Investments Group Ltd. increased its position in shares of MongoDB, Inc. (NASDAQ:MDB – Get Rating) by 37.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,760 shares of the company’s stock after purchasing an additional 13,073 shares during the period. Russell Investments Group Ltd. owned 0.07% of MongoDB worth $9,402,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sentry Investment Management LLC purchased a new position in shares of MongoDB in the third quarter valued at approximately $33,000. Lindbrook Capital LLC boosted its stake in shares of MongoDB by 350.0% in the fourth quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock valued at $34,000 after purchasing an additional 133 shares during the period. Y.D. More Investments Ltd purchased a new position in shares of MongoDB in the fourth quarter valued at approximately $36,000. Alta Advisers Ltd purchased a new position in shares of MongoDB in the third quarter valued at approximately $40,000. Finally, Huntington National Bank boosted its stake in shares of MongoDB by 1,468.8% in the third quarter. Huntington National Bank now owns 251 shares of the company’s stock valued at $50,000 after purchasing an additional 235 shares during the period. 84.86% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

NASDAQ:MDB opened at $263.60 on Friday. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of -52.30 and a beta of 1.06. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 1.54. The company’s 50-day moving average is $223.84 and its two-hundred day moving average is $201.55. MongoDB, Inc. has a 12-month low of $135.15 and a 12-month high of $390.84.

MongoDB (NASDAQ:MDB – Get Rating) last released its earnings results on Wednesday, March 8th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.20. MongoDB had a negative net margin of 26.90% and a negative return on equity of 48.38%. The company had revenue of $361.31 million for the quarter, compared to analyst estimates of $335.84 million. Research analysts expect that MongoDB, Inc. will post -4.04 EPS for the current year.

Insider Activity

In other news, Director Dwight A. Merriman sold 14,095 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $206.95, for a total transaction of $2,916,960.25. Following the completion of the transaction, the director now owns 1,227,954 shares of the company’s stock, valued at approximately $254,125,080.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Dwight A. Merriman sold 14,095 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $206.95, for a total transaction of $2,916,960.25. Following the completion of the sale, the director now owns 1,227,954 shares of the company’s stock, valued at approximately $254,125,080.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Cedric Pech sold 15,534 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $250.00, for a total transaction of $3,883,500.00. Following the sale, the executive now directly owns 37,516 shares of the company’s stock, valued at approximately $9,379,000. The disclosure for this sale can be found here. Insiders sold a total of 135,108 shares of company stock valued at $30,127,927 in the last 90 days. 5.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of MongoDB from $325.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, March 9th. Barclays cut their target price on shares of MongoDB from $264.00 to $257.00 and set an “overweight” rating on the stock in a report on Thursday, March 9th. Citigroup cut their target price on shares of MongoDB from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, March 7th. Stifel Nicolaus cut their target price on shares of MongoDB from $256.00 to $240.00 in a report on Thursday, February 23rd. Finally, Oppenheimer cut their target price on shares of MongoDB from $320.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, March 9th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $256.00.

MongoDB Profile

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.

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Institutional Ownership by Quarter for MongoDB (NASDAQ:MDB)

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