Acadian Asset Management LLC Has $98.59 Million Stock Position in MongoDB, Inc. $MDB

Key Points

• Acadian Asset Management LLC increased its holdings in MongoDB, Inc. by 181.8%, acquiring an additional 362,705 shares and totaling 562,190 shares worth approximately $98.6 million.
• Significant institutional investment interest is evident as multiple firms made changes to their positions in MongoDB during the 1st quarter, with institutional ownership now at 89.29%.
• Research firms have raised their price targets for MongoDB, with Bank of America setting a new target at $345.00 and multiple firms maintaining a buy rating on the stock.

Acadian Asset Management LLC lifted its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 181.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 562,190 shares of the company's stock after purchasing an additional 362,705 shares during the quarter. Acadian Asset Management LLC owned about 0.69% of MongoDB worth $98,586,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MDB. Cetera Investment Advisers grew its holdings in shares of MongoDB by 44.1% during the 4th quarter. Cetera Investment Advisers now owns 14,316 shares of the company's stock worth $3,333,000 after purchasing an additional 4,384 shares during the period. Deutsche Bank AG grew its holdings in shares of MongoDB by 52.9% during the 4th quarter. Deutsche Bank AG now owns 294,463 shares of the company's stock worth $68,554,000 after purchasing an additional 101,819 shares during the period. Focus Partners Wealth grew its holdings in shares of MongoDB by 57.3% during the 4th quarter. Focus Partners Wealth now owns 31,132 shares of the company's stock worth $7,248,000 after purchasing an additional 11,335 shares during the period. Janus Henderson Group PLC grew its holdings in shares of MongoDB by 5.3% during the 4th quarter. Janus Henderson Group PLC now owns 8,335 shares of the company's stock worth $1,940,000 after purchasing an additional 421 shares during the period. Finally, Investment Management Corp of Ontario grew its holdings in shares of MongoDB by 63.9% during the 4th quarter. Investment Management Corp of Ontario now owns 3,919 shares of the company's stock worth $912,000 after purchasing an additional 1,528 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Trading Down 0.8%

NASDAQ:MDB traded down $2.77 during mid-day trading on Thursday, reaching $332.10. 1,363,508 shares of the stock were exchanged, compared to its average volume of 3,951,522. The business has a fifty day moving average price of $243.83 and a 200 day moving average price of $209.54. The firm has a market capitalization of $27.02 billion, a PE ratio of -338.88 and a beta of 1.49. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00.

Insider Activity

In related news, Director Charles M. Hazard, Jr. sold 833 shares of MongoDB stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total transaction of $258,230.00. Following the transaction, the director directly owned 47,366 shares of the company's stock, valued at $14,683,460. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $326.25, for a total value of $326,250.00. Following the transaction, the chief accounting officer directly owned 11,598 shares in the company, valued at approximately $3,783,847.50. The trade was a 7.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,730 shares of company stock valued at $16,292,409 over the last quarter. Insiders own 3.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Sanford C. Bernstein boosted their price target on MongoDB from $319.00 to $338.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. BMO Capital Markets boosted their price target on MongoDB from $280.00 to $315.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Morgan Stanley boosted their price target on MongoDB from $255.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. The Goldman Sachs Group boosted their price target on MongoDB from $270.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Finally, Stifel Nicolaus boosted their price target on MongoDB from $275.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $310.86.

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.