Franklin Resources Inc. Boosts Position in MongoDB, Inc. (NASDAQ:MDB)

Franklin Resources Inc. grew its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,054,888 shares of the company's stock after buying an additional 181,962 shares during the quarter. Franklin Resources Inc. owned 2.76% of MongoDB worth $478,398,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock valued at $1,706,205,000 after acquiring an additional 23,942 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Norges Bank purchased a new position in MongoDB in the 4th quarter worth $189,584,000. Amundi lifted its stake in MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company's stock worth $172,519,000 after purchasing an additional 321,186 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in MongoDB during the fourth quarter valued at about $90,478,000. 89.29% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total transaction of $205,260.75. Following the sale, the director now directly owns 19,333 shares of the company's stock, valued at $3,377,281.77. This trade represents a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now owns 1,109,006 shares of the company's stock, valued at $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,032 shares of company stock worth $9,818,567 over the last 90 days. 3.60% of the stock is currently owned by insiders.

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MongoDB Trading Down 9.4 %

MongoDB stock traded down $16.85 during mid-day trading on Thursday, hitting $163.34. The company had a trading volume of 3,342,136 shares, compared to its average volume of 1,749,509. MongoDB, Inc. has a 12 month low of $160.47 and a 12 month high of $387.19. The company has a market capitalization of $13.26 billion, a PE ratio of -59.61 and a beta of 1.30. The stock's 50 day moving average price is $240.77 and its two-hundred day moving average price is $263.72.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on MongoDB from $400.00 to $320.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Citigroup decreased their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday. Piper Sandler dropped their price objective on MongoDB from $425.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Daiwa America raised shares of MongoDB to a "strong-buy" rating in a research note on Tuesday. Finally, DA Davidson raised their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and an average price target of $312.84.

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.