California State Teachers Retirement System Cuts Position in MongoDB, Inc. $MDB

California State Teachers Retirement System decreased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 1.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,470 shares of the company’s stock after selling 2,186 shares during the period. California State Teachers Retirement System’s holdings in MongoDB were worth $29,243,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of MongoDB by 115.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company’s stock worth $148,872,000 after acquiring an additional 189,820 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of MongoDB by 69.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company’s stock valued at $145,029,000 after acquiring an additional 141,755 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of MongoDB by 33.6% during the fourth quarter. Fiera Capital Corp now owns 183,035 shares of the company’s stock valued at $76,818,000 after acquiring an additional 46,051 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of MongoDB by 611.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock worth $300,120,000 after purchasing an additional 614,559 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of MongoDB by 12,467.7% in the 4th quarter. M&T Bank Corp now owns 323,744 shares of the company’s stock worth $135,872,000 after purchasing an additional 321,168 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Price Performance

MongoDB stock opened at $337.48 on Friday. MongoDB, Inc. has a one year low of $198.47 and a one year high of $444.72. The stock has a market capitalization of $27.14 billion, a PE ratio of -912.11, a price-to-earnings-growth ratio of 1,335.57 and a beta of 1.55. The business’s fifty day moving average is $336.10 and its 200 day moving average is $316.65.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping 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 company earned $1.00 EPS. MongoDB’s revenue for the quarter 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. As a group, sell-side analysts expect that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Insider Activity

In other news, Director Roelof Botha sold 44,050 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the completion of the transaction, the director directly owned 150,550 shares of the company’s stock, valued at $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dev Ittycheria sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the transaction, the director owned 161,762 shares in the company, valued at approximately $61,980,727.92. This trade represents a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 127,746 shares of company stock worth $47,343,538. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDB. Piper Sandler increased their price objective on shares of MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Morgan Stanley lifted their target price on shares of MongoDB from $335.00 to $380.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Oppenheimer upped their target price on shares of MongoDB from $375.00 to $410.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Finally, Truist Financial raised their price target on shares of MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average price target 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.