Allspring Global Investments Holdings LLC Has $60.01 Million Stock Holdings in MongoDB, Inc. $MDB

Allspring Global Investments Holdings LLC grew its position in MongoDB, Inc. (NASDAQ:MDB) by 169.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,646 shares of the company’s stock after purchasing an additional 151,241 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MongoDB were worth $60,007,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in MongoDB during the 4th quarter worth $28,000. Cornerstone Planning Group LLC boosted its stake in MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after purchasing an additional 61 shares during the period. International Assets Investment Management LLC bought a new stake in MongoDB during the 4th quarter valued at approximately $33,000. Root Financial Partners LLC grew its holdings in MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after buying an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in MongoDB in the 4th quarter valued at approximately $38,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDB has been the subject of a number of research analyst reports. Monness Crespi & Hardt upped their price target on MongoDB from $370.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Barclays raised their price objective on shares of MongoDB from $370.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $385.00 target price on shares of MongoDB in a research report on Tuesday, May 26th. Zacks Research upgraded shares of MongoDB from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, KGI Securities started coverage on shares of MongoDB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $470.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $405.35.

MongoDB Trading Down 5.0%

Shares of NASDAQ:MDB opened at $312.33 on Friday. MongoDB, Inc. has a 1-year low of $198.47 and a 1-year high of $444.72. The firm has a market capitalization of $25.12 billion, a PE ratio of -844.14, a PEG ratio of 1,126.45 and a beta of 1.55. The business’s 50 day moving average is $336.51 and its 200-day moving average is $324.09.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.MongoDB’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. On average, sell-side analysts predict that MongoDB, Inc. will post 0.02 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,130 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $334.25, for a total value of $377,702.50. Following the sale, the director owned 982,953 shares of the company’s stock, valued at $328,552,040.25. The trade was a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the transaction, the director owned 161,762 shares of the company’s stock, valued at approximately $61,980,727.92. This represents a 19.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 127,746 shares of company stock worth $47,343,538. 2.60% of the stock is currently owned by company insiders.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.