SEB Asset Management AB Purchases Shares of 15,803 MongoDB, Inc. $MDB

SEB Asset Management AB acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the first quarter, Holdings Channel reports. The institutional investor acquired 15,803 shares of the company’s stock, valued at approximately $3,868,000.

Several other hedge funds have also modified their holdings of the stock. Cornerstone Planning Group LLC boosted its holdings in MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after purchasing an additional 61 shares during the period. International Assets Investment Management LLC purchased a new stake in MongoDB during the 4th quarter worth about $33,000. Root Financial Partners LLC raised its position in MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in MongoDB in the 4th quarter valued at about $38,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of MongoDB by 79.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $46,000 after buying an additional 98 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDB. Wedbush upped their target price on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Monness Crespi & Hardt lifted their price target on shares of MongoDB from $370.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Needham & Company LLC boosted their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Wall Street Zen raised shares of MongoDB from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Citigroup restated a “buy” rating on shares of MongoDB in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $405.35.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 1,130 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total value of $377,702.50. Following the completion of the sale, the director directly owned 982,953 shares of the company’s stock, valued at $328,552,040.25. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the firm’s 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 transaction, the director owned 161,762 shares in the company, valued at $61,980,727.92. This represents a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 127,746 shares of company stock worth $47,343,538. Insiders own 2.60% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ:MDB 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 firm has a market capitalization of $24.53 billion, a P/E ratio of -824.24, a P/E/G ratio of 1,260.86 and a beta of 1.55. The company’s fifty day moving average price is $337.11 and its 200 day moving average price is $321.10.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.13. The company 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%. MongoDB’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. On average, sell-side analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current 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.