Jennison Associates LLC Buys 551,567 Shares of MongoDB, Inc. (NASDAQ:MDB)

Jennison Associates LLC increased its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,408,424 shares of the company’s stock after acquiring an additional 551,567 shares during the quarter. Jennison Associates LLC owned approximately 6.05% of MongoDB worth $1,581,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in MongoDB by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after acquiring an additional 194,148 shares in the last quarter. Raymond James & Associates lifted its stake in shares of MongoDB by 14.2% in the fourth quarter. Raymond James & Associates now owns 60,557 shares of the company’s stock valued at $24,759,000 after buying an additional 7,510 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of MongoDB by 298.2% in the fourth quarter. Nordea Investment Management AB now owns 18,657 shares of the company’s stock valued at $7,735,000 after buying an additional 13,972 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of MongoDB by 1,196.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 29,215 shares of the company’s stock valued at $11,945,000 after buying an additional 26,961 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC lifted its stake in shares of MongoDB by 24.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock valued at $22,205,000 after buying an additional 10,753 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Mizuho dropped their price objective on shares of MongoDB from $380.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Piper Sandler dropped their price objective on shares of MongoDB from $480.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. Robert W. Baird dropped their price objective on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. DA Davidson upgraded shares of MongoDB from a “hold” rating to a “strong-buy” rating in a report on Friday, May 31st. Finally, Barclays lowered their target price on shares of MongoDB from $458.00 to $290.00 and set an “overweight” rating for the company in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $361.30.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the completion of the sale, the director now directly owns 1,148,784 shares in the company, valued at $430,736,560.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other MongoDB news, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $1,061,160.00. Following the transaction, the director now directly owns 1,142,006 shares of the company’s stock, valued at $302,962,771.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the transaction, the director now directly owns 1,148,784 shares in the company, valued at $430,736,560.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,179 shares of company stock worth $8,274,689. 3.60% of the stock is owned by company insiders.

MongoDB Stock Performance

Shares of MDB traded down $6.64 during trading hours on Monday, hitting $260.10. The company’s stock had a trading volume of 1,367,418 shares, compared to its average volume of 1,541,713. The business has a 50 day simple moving average of $292.24 and a two-hundred day simple moving average of $359.65. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93. MongoDB, Inc. has a 52-week low of $214.74 and a 52-week high of $509.62. The company has a market cap of $19.08 billion, a price-to-earnings ratio of -92.56 and a beta of 1.13.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The company had revenue of $450.56 million during the quarter, compared to analyst estimates of $438.44 million. On average, equities analysts expect that MongoDB, Inc. will post -2.67 earnings per share for the current fiscal year.

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.