Prudential PLC Boosts Holdings in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Prudential PLC increased its stake in MongoDB, Inc. by 33.4% in Q1, bringing its total holdings to 4,594 shares valued at approximately $806,000.
• MongoDB received several positive analyst ratings, with price targets set between $275.00 and $320.00, indicating strong market confidence.
• Insider activity revealed notable sales, with Director Hope F. Cochran and CEO Dev Ittycheria selling shares worth over $6 million combined, reflecting a decrease in their ownership percentages.

Prudential PLC boosted its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 33.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,594 shares of the company's stock after acquiring an additional 1,150 shares during the period. Prudential PLC's holdings in MongoDB were worth $806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. raised its holdings in shares of MongoDB by 6.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 22,088 shares of the company's stock worth $3,881,000 after buying an additional 1,243 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of MongoDB by 4.0% in the first quarter. HighTower Advisors LLC now owns 19,520 shares of the company's stock worth $3,424,000 after buying an additional 747 shares during the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of MongoDB by 23.2% in the first quarter. Motley Fool Asset Management LLC now owns 1,350 shares of the company's stock worth $237,000 after buying an additional 254 shares during the last quarter. Nuveen LLC purchased a new position in shares of MongoDB in the first quarter worth $42,890,000. Finally, Entropy Technologies LP purchased a new position in shares of MongoDB in the first quarter worth $897,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MDB shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $320.00 price target on shares of MongoDB in a report on Thursday, June 5th. William Blair reaffirmed an "outperform" rating on shares of MongoDB in a report on Thursday, June 26th. Monness Crespi & Hardt raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price target for the company in a report on Thursday, June 5th. Bank of America raised their price target on shares of MongoDB from $215.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Finally, Rosenblatt Securities reduced their target price on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating for the company 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $281.31.

Insider Buying and Selling

In related news, Director Hope F. Cochran sold 1,174 shares of the business's 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 transaction, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 25,005 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the transaction, the chief executive officer owned 256,974 shares in the company, valued at $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is owned by insiders.

MongoDB Stock Up 6.8%

Shares of NASDAQ MDB opened at $218.26 on Friday. The company's 50-day simple moving average is $215.39 and its 200-day simple moving average is $209.54. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $370.00. The firm has a market cap 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 earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. Equities research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

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.

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