Bank of Nova Scotia Has $1.91 Million Stake in MongoDB, Inc. $MDB

Bank of Nova Scotia raised its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 36.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,796 shares of the company’s stock after acquiring an additional 2,062 shares during the quarter. Bank of Nova Scotia’s holdings in MongoDB were worth $1,908,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MDB. Integrated Wealth Concepts LLC lifted its stake in shares of MongoDB by 31.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after purchasing an additional 327 shares during the period. NewEdge Advisors LLC grew its stake in 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 purchasing an additional 1,504 shares during the period. Sivia Capital Partners LLC acquired a new stake in MongoDB during the second quarter worth approximately $329,000. Cresset Asset Management LLC increased its holdings in 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 purchasing an additional 370 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in MongoDB by 28.3% in the second quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock worth $2,565,000 after purchasing an additional 2,697 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Up 3.4%

Shares of NASDAQ:MDB opened at $321.31 on Thursday. MongoDB, Inc. has a twelve month low of $198.47 and a twelve month high of $444.72. The stock’s 50 day moving average is $335.70 and its 200-day moving average is $317.08. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of -868.39, a PEG ratio of 1,273.03 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results 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 business 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 was up 25.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 EPS. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Equities research analysts anticipate that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Guggenheim restated a “buy” rating and set a $475.00 price target on shares of MongoDB in a report on Friday, May 29th. Robert W. Baird increased their target price on shares of MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. BMO Capital Markets raised their price target on shares of MongoDB from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Wall Street Zen downgraded shares of MongoDB from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Zacks Research upgraded shares of MongoDB from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.35.

Insider Transactions at MongoDB

In other news, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total transaction of $538,782.30. Following the completion of the sale, the director directly owned 25,444 shares of the company’s stock, valued at $8,754,008.20. The trade was a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the completion of the sale, the director owned 150,550 shares in the company, valued at $59,929,438.50. This represents a 22.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 127,746 shares of company stock valued at $47,343,538. Corporate insiders own 2.60% of the company’s stock.

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.