Primecap Management Co. CA Increases Position in MongoDB, Inc. (NASDAQ:MDB)

Primecap Management Co. CA lifted its holdings in MongoDB, Inc. (NASDAQ:MDB) by 28.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 90,350 shares of the company’s stock after acquiring an additional 20,100 shares during the quarter. Primecap Management Co. CA’s holdings in MongoDB were worth $21,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jennison Associates LLC lifted its stake in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Raymond James Financial Inc. purchased a new position in MongoDB in the fourth quarter valued at approximately $90,478,000. Amundi lifted its stake in MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after purchasing an additional 321,186 shares during the last quarter. 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, Avala Global LP purchased a new position in MongoDB in the third quarter valued at approximately $47,960,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Scotiabank reiterated a “sector perform” rating and issued a $240.00 price objective (down previously from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Royal Bank of Canada lowered their target price on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC lowered their target price on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus lowered their target price on shares of MongoDB from $425.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Barclays lowered their target price on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.70.

MongoDB Stock Performance

Shares of MongoDB stock opened at $190.06 on Thursday. MongoDB, Inc. has a 52-week low of $173.13 and a 52-week high of $387.19. The company has a fifty day moving average of $253.21 and a 200-day moving average of $270.89. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of -69.36 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.86 earnings per share. On average, equities research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, insider Cedric Pech sold 287 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 169 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the sale, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock worth $11,328,869 in the last ninety days. 3.60% of the stock is owned by company 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.