Legal & General Group Plc Increases Stake in MongoDB, Inc. $MDB

Key Points

• Legal & General Group Plc raised its stake in MongoDB by 2.4% in Q3 to 530,344 shares—about 0.65% of the company—valued at roughly $164.6 million.
• Several analysts trimmed price targets (e.g., UBS to $275, Canaccord to $375, RBC to $395), but the MarketBeat consensus remains a Moderate Buy with a $354.18 target.
• Company insiders sold 21,949 shares (~$8.98M) in the last 90 days, while MongoDB beat Q results (EPS $1.65, revenue $695.07M, +26.8% YoY) yet still reported negative net margin and ROE.

Legal & General Group Plc raised its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 530,344 shares of the company's stock after acquiring an additional 12,590 shares during the period. Legal & General Group Plc owned approximately 0.65% of MongoDB worth $164,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank raised its holdings in MongoDB by 110.9% during the third quarter. Huntington National Bank now owns 97 shares of the company's stock worth $30,000 after purchasing an additional 51 shares in the last quarter. Montag A & Associates Inc. boosted its holdings in MongoDB by 144.3% in the 2nd quarter. Montag A & Associates Inc. now owns 171 shares of the company's stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. Promus Capital LLC purchased a new stake in MongoDB in the 2nd quarter valued at approximately $36,000. TD Private Client Wealth LLC increased its position in MongoDB by 2,825.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company's stock worth $36,000 after purchasing an additional 113 shares during the period. Finally, Hollencrest Capital Management acquired a new position in MongoDB during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MDB shares. Canaccord Genuity Group cut their target price on MongoDB from $455.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. UBS Group dropped their price objective on MongoDB from $440.00 to $275.00 and set a "neutral" rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada cut their price objective on MongoDB from $500.00 to $395.00 and set an "outperform" rating for the company in a research report on Tuesday, March 3rd. Monness Crespi & Hardt reduced their target price on MongoDB from $475.00 to $370.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of MongoDB in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.18.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total value of $4,077,000.00. Following the sale, the director directly owned 1,031,316 shares of the company's stock, valued at approximately $420,467,533.20. This represents a 0.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the firm's stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the transaction, the director owned 25,659 shares of the company's stock, valued at $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,949 shares of company stock valued at $8,981,630 in the last ninety days. Corporate insiders own 3.10% of the company's stock.

MongoDB Price Performance

MDB opened at $260.68 on Friday. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $444.72. The stock has a market cap of $21.22 billion, a P/E ratio of -296.23 and a beta of 1.40. The stock's 50 day simple moving average is $356.86 and its 200 day simple moving average is $352.44.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million during the quarter, compared to analysts' expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.MongoDB's revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. Research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

MongoDB Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.