Independent Financial Group LLC Invests $557,000 in MongoDB, Inc. $MDB

Independent Financial Group LLC bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,275 shares of the company’s stock, valued at approximately $557,000.

Other hedge funds have also recently bought and sold shares of the company. Prosperity Consulting Group LLC purchased a new stake in MongoDB during the first quarter worth approximately $302,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of MongoDB in the 1st quarter valued at $796,000. Wealthfront Advisers LLC lifted its holdings in shares of MongoDB by 59.8% during the 1st quarter. Wealthfront Advisers LLC now owns 7,914 shares of the company’s stock valued at $1,937,000 after acquiring an additional 2,961 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of MongoDB by 42.1% during the 1st quarter. D.A. Davidson & CO. now owns 1,928 shares of the company’s stock valued at $472,000 after acquiring an additional 571 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of MongoDB by 55.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 549,970 shares of the company’s stock valued at $134,616,000 after acquiring an additional 195,250 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In other MongoDB 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 transaction of $15,326,400.00. Following the sale, the director directly owned 161,762 shares in the company, valued at $61,980,727.92. The trade was a 19.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,000 shares of the company’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 completion of the transaction, the director directly owned 29,326 shares in the company, valued at approximately $10,264,100. The trade was a 3.30% decrease in their ownership of the stock. 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 have sold 127,746 shares of company stock worth $47,343,538 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

MongoDB Price Performance

MongoDB stock opened at $304.97 on Thursday. MongoDB, Inc. has a 12-month low of $198.47 and a 12-month high of $444.72. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of -824.24, a price-to-earnings-growth ratio of 1,260.86 and a beta of 1.55. The firm’s fifty day moving average price is $337.11 and its 200 day moving average price is $321.10.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $664.53 million. During the same period last year, the firm earned $1.00 earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. 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 forecast that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDB has been the subject of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $375.00 price target on shares of MongoDB in a report on Friday, May 29th. Needham & Company LLC boosted their price objective on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Citigroup restated a “buy” rating on shares of MongoDB in a research note on Monday, June 8th. Oppenheimer increased their target price on MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Robert W. Baird raised their target price on MongoDB from $260.00 to $335.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $405.35.

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.