Principal Financial Group Inc. Trims Holdings in MongoDB, Inc. (NASDAQ:MDB)

Principal Financial Group Inc. lessened its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 20.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,798 shares of the company's stock after selling 1,201 shares during the quarter. Principal Financial Group Inc.'s holdings in MongoDB were worth $842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its stake in MongoDB by 3.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock worth $243,000 after purchasing an additional 39 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of MongoDB by 0.4% during the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after purchasing an additional 65 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in MongoDB by 4.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after buying an additional 75 shares in the last quarter. Fifth Third Bancorp grew its holdings in MongoDB by 15.9% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company's stock valued at $100,000 after buying an additional 78 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its stake in shares of MongoDB by 5.6% during the 1st quarter. Moody National Bank Trust Division now owns 1,751 shares of the company's stock worth $307,000 after acquiring an additional 93 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Performance

Shares of MDB stock traded up $1.03 during mid-day trading on Monday, reaching $222.24. The company's stock had a trading volume of 1,886,266 shares, compared to its average volume of 1,986,456. The company has a market cap of $18.16 billion, a P/E ratio of -194.95 and a beta of 1.41. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The firm's 50-day moving average is $202.71 and its two-hundred day moving average is $212.83.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Rosenblatt Securities lowered their price objective on MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, June 5th. Scotiabank lifted their price objective on MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. DA Davidson reissued a "buy" rating and set a $275.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price target for the company in a report on Thursday, April 17th. Finally, UBS Group lifted their price target on MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $281.35.

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the sale, the director owned 21,096 shares of the company's stock, valued at $4,241,983.68. This represents a 5.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 3,747 shares of MongoDB stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $206.05, for a total transaction of $772,069.35. Following the completion of the transaction, the chief executive officer directly owned 253,227 shares in the company, valued at approximately $52,177,423.35. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,746 shares of company stock valued at $7,500,196 in the last ninety days. 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.