Jennison Associates LLC Raises Position in MongoDB, Inc. (NASDAQ:MDB)

Jennison Associates LLC grew its position in MongoDB, Inc. (NASDAQ:MDB) by 23.6% in the 3rd quarter, according to its most recent disclosure with the SEC. 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 owned approximately 4.20% of MongoDB worth $838,632,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Aigen Investment Management LP purchased a new position in shares of MongoDB during the third quarter valued at approximately $1,045,000. Sanctuary Advisors LLC purchased a new position in shares of MongoDB during the second quarter valued at approximately $1,860,000. Sycomore Asset Management raised its holdings in shares of MongoDB by 86.4% during the second quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after purchasing an additional 24,827 shares during the last quarter. Cetera Investment Advisers grew its position in MongoDB by 327.6% during the first quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock valued at $3,899,000 after buying an additional 8,330 shares during the period. Finally, Toronto Dominion Bank grew its position in MongoDB by 147.3% during the first quarter. Toronto Dominion Bank now owns 24,047 shares of the company’s stock valued at $8,624,000 after buying an additional 14,323 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Up 1.7 %

MDB opened at $289.15 on Wednesday. The stock has a market capitalization of $21.36 billion, a price-to-earnings ratio of -95.74 and a beta of 1.15. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The business has a 50-day moving average of $278.06 and a two-hundred day moving average of $273.04.

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

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $290.40, for a total value of $290,400.00. Following the transaction, the director now directly owns 1,138,006 shares of the company’s stock, valued at $330,476,942.40. This represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Thomas Bull sold 154 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at approximately $4,117,425. This represents a 0.95 % 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 over the last three months. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the subject of several recent research reports. Needham & Company LLC boosted their target price on shares of MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays upped their price target on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.