Principal Financial Group Inc. Has $842,000 Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Principal Financial Group Inc. decreased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 20.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in MongoDB in the fourth quarter valued at $29,000. Coppell Advisory Solutions LLC lifted its stake in shares of MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after purchasing an additional 182 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of MongoDB during the fourth quarter worth about $97,000. Fifth Third Bancorp lifted its stake in shares of MongoDB by 15.9% during the first quarter. Fifth Third Bancorp now owns 569 shares of the company's stock worth $100,000 after purchasing an additional 78 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of MongoDB by 237.2% during the first quarter. Versant Capital Management Inc now owns 607 shares of the company's stock worth $106,000 after purchasing an additional 427 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDB has been the topic of several recent analyst reports. Wedbush reiterated an "outperform" rating and issued a $300.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Guggenheim boosted their price target on MongoDB from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Morgan Stanley cut their price target on MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Mizuho cut their price target on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Monness Crespi & Hardt upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price target on the stock in a research note on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and an average target price of $281.35.

MongoDB Stock Up 1.8%

Shares of MDB traded up $3.96 during mid-day trading on Wednesday, reaching $228.25. The company's stock had a trading volume of 1,499,008 shares, compared to its average volume of 1,991,135. The business has a fifty day moving average of $204.58 and a 200 day moving average of $212.84. The company has a market cap of $18.65 billion, a price-to-earnings ratio of -200.22 and a beta of 1.41. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. During the same quarter last year, the firm earned $0.51 EPS. MongoDB's revenue for the quarter was up 21.8% on a year-over-year basis. On average, analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity

In related news, Director Hope F. Cochran sold 1,174 shares of the business's 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 directly owned 21,096 shares in the company, valued at $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $772,069.35. Following the sale, the chief executive officer directly owned 253,227 shares in the company, valued at $52,177,423.35. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,746 shares of company stock valued at $7,500,196. 3.10% of the stock is owned by insiders.

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.