Jennison Associates LLC Has $838.63 Million Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Jennison Associates LLC grew its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 23.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,102,024 shares of the company's stock after buying an additional 592,038 shares during the quarter. Jennison Associates LLC owned 4.20% of MongoDB worth $838,632,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in shares of MongoDB during the third quarter worth approximately $100,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of MongoDB in the third quarter worth about $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 worth $678,000 after acquiring an additional 360 shares during the last quarter. Tidemark LLC increased its holdings in shares of MongoDB by 542.5% in 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 boosted its stake in MongoDB by 1.1% during the third quarter. Swiss National Bank now owns 217,700 shares of the company's stock worth $58,855,000 after buying an additional 2,300 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MDB. Scotiabank lifted their target price on shares of MongoDB from $250.00 to $295.00 and gave the company a "sector perform" rating in a report on Friday, August 30th. Barclays increased their target price on shares of MongoDB from $290.00 to $345.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Morgan Stanley upped their price target on shares of MongoDB from $320.00 to $340.00 and gave the company an "overweight" rating in a research report on Friday, August 30th. Stifel Nicolaus raised their price objective on shares of MongoDB from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. Finally, UBS Group upped their price target on MongoDB from $250.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $336.54.

MongoDB Stock Performance

MDB stock traded down $6.60 during mid-day trading on Wednesday, reaching $282.55. 822,863 shares of the stock traded hands, compared to its average volume of 1,428,410. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average of $278.01 and a two-hundred day moving average of $272.52. The firm has a market capitalization of $20.87 billion, a PE ratio of -95.74 and a beta of 1.15. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $478.11 million during the quarter, compared to analysts' expectations of $465.03 million. During the same period last year, the business earned ($0.63) earnings per share. MongoDB's quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that MongoDB, Inc. will post -2.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the sale, the director now owns 1,131,006 shares in the company, valued at $289,820,287.50. This represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction 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 approximately $23,313,925.17. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,600 shares of company stock worth $7,034,249. Insiders own 3.60% of the company's stock.

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.