Swiss Life Asset Management Ltd Purchases 2,056 Shares of MongoDB, Inc. $MDB

Swiss Life Asset Management Ltd raised its position in MongoDB, Inc. (NASDAQ:MDB) by 33.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,264 shares of the company’s stock after acquiring an additional 2,056 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in MongoDB were worth $2,565,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ValueAct Holdings L.P. lifted its stake in MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after purchasing an additional 1,427,700 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after buying an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its stake in shares of MongoDB by 162.1% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after acquiring an additional 852,540 shares during the period. Norges Bank acquired a new position in shares of MongoDB during the 2nd quarter worth approximately $164,338,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in MongoDB by 162.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after acquiring an additional 678,746 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Performance

MDB opened at $273.25 on Tuesday. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $444.72. The company has a market capitalization of $22.24 billion, a P/E ratio of -310.51 and a beta of 1.40. The stock has a fifty day moving average of $335.58 and a 200-day moving average of $352.07.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. During the same period in the prior year, the company posted $1.28 earnings per share. MongoDB’s revenue was up 26.8% compared to the same quarter last year. On average, equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MDB shares. Guggenheim reaffirmed a “buy” rating and set a $475.00 price target on shares of MongoDB in a report on Tuesday, March 3rd. Truist Financial decreased their price objective on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Raymond James Financial began coverage on shares of MongoDB in a research note on Monday, December 15th. They set a “market perform” rating for the company. Royal Bank Of Canada reduced their target price on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Finally, Bank of America reiterated a “buy” rating on shares of MongoDB in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $355.24.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,190 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total transaction of $440,002.50. Following the transaction, the director owned 80,462 shares in the company, valued at $29,750,824.50. This represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 19,383 shares of company stock valued at $7,910,983. Insiders own 3.10% of the company’s stock.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.