MongoDB, Inc. $MDB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in MongoDB, Inc. (NASDAQ:MDB) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 421,528 shares of the company’s stock after selling 54,177 shares during the period. Bank of New York Mellon Corp’s holdings in MongoDB were worth $103,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its holdings in shares of MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after acquiring an additional 61 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of MongoDB during the 4th quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of MongoDB during the fourth quarter worth $33,000. Root Financial Partners LLC grew its position 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 acquiring an additional 32 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of MongoDB during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MDB. Weiss Ratings lowered shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of MongoDB from a “hold” rating to a “buy” rating in a report on Saturday. Citizens Jmp reissued a “market outperform” rating and issued a $366.00 price target on shares of MongoDB in a research report on Friday, May 29th. Morgan Stanley boosted their price target on shares of MongoDB from $335.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of MongoDB in a research report on Friday, May 29th. One investment 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 stock. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $405.35.

MongoDB Trading Up 3.5%

Shares of NASDAQ:MDB opened at $323.36 on Tuesday. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72. The company’s 50 day moving average is $337.09 and its two-hundred day moving average is $322.70. The company has a market cap of $26.01 billion, a PE ratio of -873.95, a P/E/G ratio of 1,126.44 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The firm had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. As a group, equities research analysts expect that MongoDB, Inc. will post 0.02 EPS for the current year.

Insider Activity at MongoDB

In other news, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the transaction, the chief financial officer owned 1,500 shares in the company, valued at approximately $534,945. This represents a 76.92% decrease in their position. The transaction was disclosed in a legal 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 Dwight A. Merriman sold 1,130 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total value of $377,702.50. Following the sale, the director directly owned 982,953 shares in the company, valued at $328,552,040.25. This trade represents a 0.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 127,746 shares of company stock worth $47,343,538 over the last three months. Company insiders own 2.60% of the company’s stock.

MongoDB Profile

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.