MongoDB, Inc. $MDB Stock: North Dakota State Investment Board Cuts Holdings

North Dakota State Investment Board cut its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 39.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,460 shares of the company’s stock after selling 2,247 shares during the period. North Dakota State Investment Board’s holdings in MongoDB were worth $1,206,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of MongoDB by 0.3% in the first quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock worth $135,922,000 after buying an additional 1,852 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of MongoDB by 55.0% during the first 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 during the period. Amundi raised its holdings in shares of MongoDB by 17.8% during the first quarter. Amundi now owns 376,447 shares of the company’s stock valued at $92,143,000 after acquiring an additional 56,888 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of MongoDB by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 373,992 shares of the company’s stock valued at $91,514,000 after acquiring an additional 11,606 shares during the period. Finally, Sei Investments Co. lifted its position in shares of MongoDB by 125.3% in the 1st quarter. Sei Investments Co. now owns 367,663 shares of the company’s stock valued at $89,979,000 after acquiring an additional 204,446 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on shares of MongoDB from $410.00 to $475.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Truist Financial lifted 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. KGI Securities started coverage on MongoDB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $470.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $540.00 target price on shares of MongoDB in a research report on Friday, October 2nd. Finally, Barclays lifted their price target on MongoDB from $460.00 to $480.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $461.91.

Insider Activity at MongoDB

In other MongoDB news, Director Archana Agrawal sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $400.00, for a total value of $400,000.00. Following the completion of the sale, the director owned 4,328 shares in the company, valued at $1,731,200. This represents a 18.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 1,000 shares of MongoDB stock in a transaction on Friday, October 9th. The shares were sold at an average price of $377.00, for a total transaction of $377,000.00. Following the sale, the director directly owned 448,896 shares of the company’s stock, valued at $169,233,792. This trade represents a 0.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,595 shares of company stock worth $13,465,211 in the last quarter. 2.60% of the stock is owned by corporate insiders.

MongoDB Price Performance

NASDAQ MDB opened at $352.96 on Friday. The company has a 50 day simple moving average of $382.82 and a 200-day simple moving average of $339.06. The firm has a market capitalization of $28.43 billion, a price-to-earnings ratio of 1,673.69, a price-to-earnings-growth ratio of 35.05 and a beta of 1.74. MongoDB, Inc. has a 52-week low of $215.68 and a 52-week high of $473.10.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, topping the consensus estimate 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 last year, the company posted $1.00 earnings per share. The firm’s quarterly 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. On average, analysts predict that MongoDB, Inc. will post 0.50 EPS for the current year.

About MongoDB

MongoDB, Inc develops and provides a modern database platform designed to help organizations build, deploy and scale applications. Its flagship technology is MongoDB, a document-oriented database that stores data in flexible, JSON-like documents and is intended to support a broad range of application development and data-management needs.

The company offers MongoDB Atlas, a fully managed cloud database service available across major cloud providers, as well as MongoDB Enterprise Advanced for organizations that run databases in their own data centers or in hybrid environments.