Daiwa Securities Group Inc. Grows Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Daiwa Securities Group Inc. grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,987 shares of the company’s stock after purchasing an additional 664 shares during the quarter. Daiwa Securities Group Inc.’s holdings in MongoDB were worth $2,558,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MDB. Jennison Associates LLC lifted its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the period. Raymond James Financial Inc. purchased a new position in shares of MongoDB during the 4th quarter worth about $90,478,000. Amundi boosted its position in shares of MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after acquiring an additional 321,186 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after purchasing an additional 294,228 shares during the period. Finally, Avala Global LP acquired a new position in MongoDB during the third quarter worth approximately $47,960,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Performance

NASDAQ:MDB opened at $185.10 on Friday. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of -67.55 and a beta of 1.30. MongoDB, Inc. has a one year low of $173.13 and a one year high of $387.19. The stock has a 50-day simple moving average of $257.94 and a 200 day simple moving average of $272.48.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. UBS Group set a $350.00 price objective on MongoDB in a report on Tuesday, March 4th. Oppenheimer decreased their target price on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Needham & Company LLC cut their price target on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.87.

Insiders Place Their Bets

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $55,379,548.84. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,314 shares of company stock valued at $12,981,833. Company insiders own 3.60% of the company’s stock.

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.