First Trust Advisors LP Trims Stake in MongoDB, Inc. $MDB

First Trust Advisors LP cut its holdings in MongoDB, Inc. (NASDAQ:MDB) by 17.3% during the 1st quarter, Holdings Channel reports. The fund owned 369,448 shares of the company’s stock after selling 77,542 shares during the period. First Trust Advisors LP’s holdings in MongoDB were worth $90,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MDB. Integrated Wealth Concepts LLC increased its stake in shares of MongoDB by 31.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after purchasing an additional 327 shares in the last quarter. NewEdge Advisors LLC raised its holdings in MongoDB by 55.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock worth $743,000 after purchasing an additional 1,504 shares during the period. Sivia Capital Partners LLC purchased a new position in MongoDB during the second quarter valued at $329,000. Cresset Asset Management LLC lifted its position in MongoDB by 13.4% during the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock valued at $659,000 after purchasing an additional 370 shares in the last quarter. Finally, Cerity Partners LLC increased its position in MongoDB by 28.3% in the second quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock worth $2,565,000 after buying an additional 2,697 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the completion of the transaction, the director owned 161,762 shares in the company, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the director directly owned 29,326 shares in the company, valued at approximately $10,264,100. This represents a 3.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 127,746 shares of company stock worth $47,343,538. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MDB shares. Wedbush lifted their price objective on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Needham & Company LLC increased their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 10th. UBS Group raised their target price on shares of MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Finally, Guggenheim reiterated a “buy” rating and issued a $475.00 price target on shares of MongoDB in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $405.35.

MongoDB Stock Down 0.3%

MongoDB stock opened at $298.22 on Friday. The company’s 50-day moving average price is $336.75 and its 200-day moving average price is $320.24. The company has a market cap of $23.99 billion, a PE ratio of -806.00, a price-to-earnings-growth ratio of 1,225.98 and a beta of 1.55. MongoDB, Inc. has a twelve month low of $198.47 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB) last announced its quarterly 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 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 firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter last year, the firm 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 expect that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

MongoDB Company 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.