MongoDB, Inc. (NASDAQ:MDB) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in MongoDB, Inc. by 9.5%, owning approximately 63,997 shares valued at $11.2 million.
• MongoDB reported earnings per share (EPS) of $1.00, exceeding analysts' estimates of $0.65, with a revenue increase of 21.8% year-over-year.
• The stock is currently facing analyst downgrades, with Loop Capital lowering its rating from "buy" to "hold" and cutting its price target significantly from $350.00 to $190.00.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,997 shares of the company's stock after buying an additional 5,531 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of MongoDB worth $11,225,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC boosted its position in shares of MongoDB by 6.4% during the 4th quarter. Cerity Partners LLC now owns 9,674 shares of the company's stock worth $2,388,000 after purchasing an additional 580 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of MongoDB by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 31,942 shares of the company's stock worth $7,436,000 after purchasing an additional 200 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of MongoDB by 5.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company's stock worth $547,000 after purchasing an additional 127 shares during the period. Senvest Management LLC purchased a new position in shares of MongoDB during the 4th quarter worth approximately $13,759,000. Finally, Guggenheim Capital LLC boosted its position in shares of MongoDB by 0.5% during the 4th quarter. Guggenheim Capital LLC now owns 20,375 shares of the company's stock worth $4,744,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Stock Up 6.8%

Shares of NASDAQ MDB traded up $13.89 during midday trading on Friday, hitting $218.26. The company had a trading volume of 2,155,406 shares, compared to its average volume of 2,398,931. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The business has a 50-day simple moving average of $215.39 and a two-hundred day simple moving average of $209.54. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of -191.46 and a beta of 1.44.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The firm had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same quarter last year, the business earned $0.51 earnings per share. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Analysts Set New Price Targets

MDB has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of MongoDB from $252.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Scotiabank increased their price objective on shares of MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. DA Davidson reaffirmed a "buy" rating and set a $275.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. UBS Group increased their target price on shares of MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $320.00 target price on shares of MongoDB in a report on Thursday, June 5th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $281.31.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $468,000.00. Following the completion of the transaction, the director owned 1,107,006 shares in the company, valued at approximately $259,039,404. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB 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 transaction, the director owned 21,096 shares of the company's stock, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,416 shares of company stock worth $11,936,656. Insiders own 3.10% of the company's stock.

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.