Hsbc Holdings PLC Cuts Position in MongoDB, Inc. $MDB

Hsbc Holdings PLC lowered its holdings in MongoDB, Inc. (NASDAQ:MDB) by 5.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 34,570 shares of the company’s stock after selling 1,810 shares during the quarter. Hsbc Holdings PLC’s holdings in MongoDB were worth $14,515,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MDB. Worthington Financial Partners LLC purchased a new position in shares of MongoDB in the 4th quarter valued at about $766,000. Employees Provident Fund Board purchased a new stake in MongoDB during the fourth quarter worth about $203,365,000. Bank of Hawaii boosted its holdings in MongoDB by 1.8% during the fourth quarter. Bank of Hawaii now owns 4,012 shares of the company’s stock worth $1,684,000 after buying an additional 72 shares in the last quarter. Reflection Asset Management acquired a new position in MongoDB during the fourth quarter worth about $66,000. Finally, Sankala Group LLC acquired a new position in MongoDB during the fourth quarter worth about $73,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. 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. Tigress Financial raised their price objective on MongoDB from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $385.00 price objective on shares of MongoDB in a report on Tuesday, May 26th. Finally, Oppenheimer boosted their target price on MongoDB from $375.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Twenty-seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $396.39.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $294.10 on Friday. The business’s fifty day moving average price is $310.99 and its two-hundred day moving average price is $332.63. The stock has a market cap of $23.65 billion, a PE ratio of -794.86, a price-to-earnings-growth ratio of 1,090.77 and a beta of 1.57. 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 results 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. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same period in the previous year, the firm posted $1.00 earnings per share. 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. As a group, equities research analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 1,500 shares of the company’s stock, valued at $534,945. This trade represents a 76.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the sale, the director owned 150,550 shares of the company’s stock, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 139,182 shares of company stock worth $49,910,727 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

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.