MongoDB, Inc. $MDB Shares Purchased by Saudi Central Bank

Saudi Central Bank increased its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 82.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,485 shares of the company’s stock after buying an additional 2,481 shares during the quarter. Saudi Central Bank’s holdings in MongoDB were worth $1,842,000 at the end of the most recent reporting period.

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

Insider Activity

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Berry sold 5,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the transaction, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 40,696 shares of company stock valued at $16,098,655. Company insiders own 2.60% of the company’s stock.

MongoDB Stock Performance

Shares of MongoDB stock opened at $356.00 on Wednesday. MongoDB, Inc. has a 1 year low of $215.68 and a 1 year high of $473.10. The company has a market capitalization of $28.63 billion, a P/E ratio of 501.41, a PEG ratio of 38.75 and a beta of 1.58. The company’s fifty day moving average is $375.28 and its two-hundred day moving average is $322.57.

MongoDB (NASDAQ:MDB) last announced its earnings results on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.28. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The business had revenue of $771.77 million during the quarter, compared to analysts’ expectations of $735.01 million. During the same period in the prior year, the company earned $1.00 earnings per share. The business’s revenue was up 30.5% compared to the same quarter last year. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. As a group, equities analysts expect that MongoDB, Inc. will post 0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MDB. BMO Capital Markets reduced their target price on shares of MongoDB from $500.00 to $450.00 and set an “outperform” rating on the stock in a report on Wednesday, September 2nd. Needham & Company LLC restated a “buy” rating and issued a $430.00 price target on shares of MongoDB in a research note on Wednesday, September 2nd. Wall Street Zen raised shares of MongoDB from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial boosted their price objective on shares of MongoDB from $400.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Morgan Stanley increased their target price on shares of MongoDB from $380.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $471.81.

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.