NewEdge Advisors LLC Sells 1,485 Shares of MongoDB, Inc. $MDB

NewEdge Advisors LLC lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 27.6% during the 1st quarter, Holdings Channel reports. The firm owned 3,887 shares of the company’s stock after selling 1,485 shares during the period. NewEdge Advisors LLC’s holdings in MongoDB were worth $951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Caerus Investment Advisors LLC grew its position in shares of MongoDB by 19.4% during the first quarter. Caerus Investment Advisors LLC now owns 819 shares of the company’s stock valued at $200,000 after purchasing an additional 133 shares in the last quarter. Groupama Asset Managment lifted its position in shares of MongoDB by 2.2% in the first quarter. Groupama Asset Managment now owns 15,147 shares of the company’s stock worth $3,708,000 after buying an additional 325 shares in the last quarter. Bank of America Corp DE boosted its stake in MongoDB by 0.3% during the first quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock valued at $135,922,000 after buying an additional 1,852 shares during the last quarter. Centaurus Financial Inc. boosted its stake in MongoDB by 9.5% during the first quarter. Centaurus Financial Inc. now owns 2,319 shares of the company’s stock valued at $568,000 after buying an additional 202 shares during the last quarter. Finally, Bull Harbor Capital LLC bought a new position in MongoDB during the first quarter valued at approximately $674,000. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Performance

NASDAQ MDB opened at $434.62 on Wednesday. The business’s 50 day moving average price is $352.08 and its 200-day moving average price is $317.28. MongoDB, Inc. has a fifty-two week low of $206.92 and a fifty-two week high of $473.10. The company has a market cap of $34.96 billion, a P/E ratio of -1,174.65, a P/E/G ratio of 3,270.10 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 1.39% and a negative net margin of 1.12%.MongoDB’s revenue was up 25.2% on a year-over-year basis. During the same period last year, the company earned $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. As a group, equities analysts predict that MongoDB, Inc. will post 0.01 EPS for the current year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $451.75, for a total transaction of $2,710,500.00. Following the transaction, the director directly owned 452,896 shares in the company, valued at approximately $204,595,768. This represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 161,762 shares in the company, valued at $61,980,727.92. This trade represents a 19.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 125,746 shares of company stock valued at $49,310,038. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on MDB. UBS Group lifted their price objective on MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Mizuho increased their target price on MongoDB from $325.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Scotiabank reissued an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Rosenblatt Securities restated a “buy” rating and issued a $385.00 price target on shares of MongoDB in a research report on Tuesday, May 26th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $366.00 price target on shares of MongoDB in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $418.26.

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.