MongoDB, Inc. $MDB Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 1,732.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,893 shares of the company’s stock after buying an additional 9,353 shares during the quarter. Fifth Third Bancorp’s holdings in MongoDB were worth $2,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its stake in MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in MongoDB during the fourth quarter valued at $28,000. International Assets Investment Management LLC bought a new stake in MongoDB during the fourth quarter valued at $33,000. Root Financial Partners LLC lifted its position in shares of MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after buying an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in shares of MongoDB during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Trading Down 4.9%

Shares of NASDAQ:MDB opened at $307.65 on Wednesday. The firm’s 50 day moving average is $337.07 and its two-hundred day moving average is $321.91. The firm has a market capitalization of $24.74 billion, a P/E ratio of -831.49, a PEG ratio of 1,325.25 and a beta of 1.55. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on MDB shares. Scotiabank reissued an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Truist Financial raised their price target on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Guggenheim restated a “buy” rating and set a $475.00 price objective on shares of MongoDB in a research note on Friday, May 29th. Finally, Cantor Fitzgerald increased their target price on MongoDB from $378.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $405.35.

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total transaction of $538,782.30. Following the sale, the director directly owned 25,444 shares in the company, valued at approximately $8,754,008.20. The trade was a 5.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the transaction, the chief financial officer owned 1,500 shares of the company’s stock, valued at $534,945. This trade represents a 76.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 127,746 shares of company stock valued at $47,343,538. 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.