MongoDB, Inc. $MDB Stake Lessened by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in MongoDB, Inc. (NASDAQ:MDB) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,197 shares of the company’s stock after selling 3,644 shares during the period. California Public Employees Retirement System’s holdings in MongoDB were worth $32,113,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. grew its holdings in MongoDB by 206.8% during the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after acquiring an additional 1,427,700 shares in the last quarter. State Street Corp increased its position in shares of MongoDB by 2.3% in the 4th quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after purchasing an additional 40,219 shares during the last quarter. Amundi raised its stake in shares of MongoDB by 61.3% in the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after purchasing an additional 563,995 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of MongoDB by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after purchasing an additional 9,693 shares in the last quarter. Finally, Norges Bank bought a new position in shares of MongoDB during the fourth quarter worth about $574,821,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

MongoDB stock opened at $307.65 on Wednesday. The company has a 50-day simple moving average of $337.07 and a 200-day simple moving average of $321.91. The firm has a market capitalization of $24.74 billion, a P/E ratio of -831.49, a P/E/G ratio of 1,325.25 and a beta of 1.55. MongoDB, Inc. has a one year low of $198.47 and a one year high of $444.72.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. 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, sell-side analysts forecast that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MDB. Citigroup reiterated a “buy” rating on shares of MongoDB in a research report on Monday, June 8th. Wedbush upped their price target on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Stifel Nicolaus set a $435.00 price objective on MongoDB in a research note on Friday, May 29th. Canaccord Genuity Group lifted their price objective on shares of MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, BMO Capital Markets boosted their target price on shares of MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a research note 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 issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.35.

Insider Transactions at MongoDB

In other MongoDB news, Director Roelof Botha sold 44,050 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value of $17,534,983.50. Following the sale, the director owned 150,550 shares in the company, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the sale, the director directly owned 161,762 shares in the company, valued at approximately $61,980,727.92. This trade represents a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 127,746 shares of company stock worth $47,343,538 in the last quarter. 2.60% of the stock is currently owned by corporate 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.