Russell Investments Group Ltd. Buys 3,688 Shares of MongoDB, Inc. (NASDAQ:MDB)

Russell Investments Group Ltd. grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,804 shares of the company's stock after purchasing an additional 3,688 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of MongoDB worth $12,303,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in MongoDB in the fourth quarter worth about $189,584,000. Raymond James Financial Inc. purchased a new stake in shares of MongoDB during the 4th quarter worth approximately $90,478,000. Amundi raised its holdings in shares of MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company's stock worth $172,519,000 after purchasing an additional 321,186 shares during the period. Assenagon Asset Management S.A. lifted its stake in MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock valued at $69,119,000 after purchasing an additional 294,228 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock valued at $478,398,000 after purchasing an additional 181,962 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Srdjan Tanjga sold 525 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares of the company's stock, valued at $1,109,903.56. This trade represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 885 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the transaction, the director now directly owns 83,845 shares in the company, valued at $24,486,932.25. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,015 shares of company stock worth $13,208,285 in the last quarter. 3.60% of the stock is owned by company insiders.

MongoDB Stock Performance

MDB traded up $1.64 on Wednesday, hitting $160.22. 324,391 shares of the company were exchanged, compared to its average volume of 1,799,484. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $387.19. The firm has a fifty day simple moving average of $215.59 and a two-hundred day simple moving average of $254.53. The stock has a market capitalization of $13.01 billion, a PE ratio of -58.46 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the prior year, the company earned $0.86 earnings per share. On average, equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDB. Citigroup dropped their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Wedbush dropped their price objective on shares of MongoDB from $360.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Barclays reduced their target price on shares of MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Oppenheimer dropped their price target on shares of MongoDB from $400.00 to $330.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Needham & Company LLC reduced their price objective on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $306.55.

MongoDB 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.