Jennison Associates LLC Acquires 592,038 Shares of MongoDB, Inc. (NASDAQ:MDB)

Jennison Associates LLC lifted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 23.6% in the third quarter, HoldingsChannel reports. The fund owned 3,102,024 shares of the company’s stock after buying an additional 592,038 shares during the period. Jennison Associates LLC’s holdings in MongoDB were worth $838,632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in MongoDB in the third quarter valued at about $100,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MongoDB during the third quarter valued at approximately $4,366,000. Banque Cantonale Vaudoise boosted its position in MongoDB by 16.8% during the third quarter. Banque Cantonale Vaudoise now owns 2,508 shares of the company’s stock valued at $678,000 after purchasing an additional 360 shares during the last quarter. Tidemark LLC boosted its position in MongoDB by 542.5% during the third quarter. Tidemark LLC now owns 681 shares of the company’s stock valued at $184,000 after purchasing an additional 575 shares during the last quarter. Finally, Swiss National Bank raised its stake in MongoDB by 1.1% in the third quarter. Swiss National Bank now owns 217,700 shares of the company’s stock valued at $58,855,000 after buying an additional 2,300 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $289.15 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The company has a market cap of $21.36 billion, a P/E ratio of -95.74 and a beta of 1.15. The firm’s fifty day moving average is $278.06 and its two-hundred day moving average is $273.04. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. During the same period in the previous year, the firm posted ($0.63) EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, analysts anticipate that MongoDB, Inc. will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $290.40, for a total transaction of $290,400.00. Following the completion of the transaction, the director now directly owns 1,138,006 shares of the company’s stock, valued at approximately $330,476,942.40. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,600 shares of company stock valued at $7,034,249 in the last three months. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MDB. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. DA Davidson raised their target price on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 11th. Scotiabank raised their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Wells Fargo & Company raised their price objective on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Needham & Company LLC raised their target price on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $336.54.

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.