MongoDB, Inc. (NASDAQ:MDB) Stock Position Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 211,534 shares of the company's stock after purchasing an additional 16,091 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of MongoDB worth $37,103,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MDB. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB in the fourth quarter valued at approximately $29,000. Coppell Advisory Solutions LLC increased its position in shares of MongoDB by 364.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after acquiring an additional 182 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of MongoDB by 56.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company's stock worth $87,000 after acquiring an additional 134 shares in the last quarter. J.Safra Asset Management Corp raised its stake in shares of MongoDB by 72.0% in the 4th quarter. J.Safra Asset Management Corp now owns 387 shares of the company's stock valued at $91,000 after acquiring an additional 162 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of MongoDB during the 4th quarter valued at $97,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MDB shares. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of MongoDB in a report on Thursday, June 5th. JMP Securities restated a "market outperform" rating and set a $345.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. Monness Crespi & Hardt upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 target price for the company in a research note on Thursday, June 5th. The Goldman Sachs Group dropped their target price on MongoDB from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Finally, Citigroup decreased their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.47.

MongoDB Stock Performance

Shares of NASDAQ MDB traded up $6.62 during midday trading on Friday, hitting $211.05. The company's stock had a trading volume of 1,522,935 shares, compared to its average volume of 1,961,962. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The firm's fifty day moving average price is $194.66 and its 200-day moving average price is $215.72. The firm has a market cap of $17.24 billion, a P/E ratio of -185.13 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 820 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction of $172,888.80. Following the completion of the transaction, the director owned 1,106,186 shares of the company's stock, valued at approximately $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,999 shares of company stock valued at $6,728,127 over the last three months. Company insiders own 3.10% 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.