Mitsubishi UFJ Asset Management Co. Ltd. Has $35.29 Million Holdings in MongoDB, Inc. $MDB

Key Points

• Mitsubishi UFJ Asset Management increased its MongoDB stake by 16.2% in the fourth quarter, bringing its holdings to 88,298 shares worth about $35.29 million.
• Several analysts recently lowered price targets on MongoDB, though the stock still carries a consensus rating of Moderate Buy with an average target price of $361.97.
• MongoDB reported strong quarterly results, with EPS of $1.65 beating expectations and revenue of $695.07 million rising 26.8% year over year, even as insiders sold shares during the period.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,298 shares of the company's stock after purchasing an additional 12,304 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.11% of MongoDB worth $35,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Cornerstone Planning Group LLC raised its position in shares of MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock valued at $27,000 after acquiring an additional 61 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of MongoDB in the 4th quarter valued at approximately $28,000. Huntington National Bank raised its position in shares of MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company's stock valued at $30,000 after acquiring an additional 51 shares during the period. TD Private Client Wealth LLC raised its position in shares of MongoDB by 2,825.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company's stock valued at $36,000 after acquiring an additional 113 shares during the period. Finally, Hollencrest Capital Management acquired a new stake in shares of MongoDB in the 3rd quarter valued at approximately $37,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MDB. Canaccord Genuity Group cut their price target on shares of MongoDB from $455.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Royal Bank Of Canada cut their price target on shares of MongoDB from $500.00 to $395.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 3rd. UBS Group cut their price target on shares of MongoDB from $440.00 to $275.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings downgraded shares of MongoDB from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 29th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $340.00 price target (down from $400.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and an average target price of $361.97.

Insider Buying and Selling

In other news, Director Hope F. Cochran sold 1,566 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the transaction, the director directly owned 24,093 shares of the company's stock, valued at $6,007,107.69. This trade represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $252.33, for a total transaction of $1,009,320.00. Following the transaction, the director directly owned 476,896 shares of the company's stock, valued at $120,335,167.68. This represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 13,566 shares of company stock valued at $3,294,891. 3.10% of the stock is owned by company insiders.

MongoDB Stock Performance

NASDAQ MDB opened at $299.47 on Friday. The business has a 50 day simple moving average of $262.12 and a 200 day simple moving average of $336.87. MongoDB, Inc. has a 52-week low of $177.43 and a 52-week high of $444.72. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of -340.31 and a beta of 1.48.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business had revenue of $695.07 million during the quarter, compared to analysts' expectations of $669.40 million. During the same period in the prior year, the business earned $1.28 EPS. MongoDB's revenue for the quarter was up 26.8% compared to the same quarter last year. On average, analysts predict that MongoDB, Inc. will post -0.46 EPS for the current year.

MongoDB 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.

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