Independence Bank of Kentucky Purchases 3,420 Shares of MongoDB, Inc. $MDB

Independence Bank of Kentucky boosted its position in MongoDB, Inc. (NASDAQ:MDB) by 110.6% in the 1st quarter, HoldingsChannel reports. The firm owned 6,512 shares of the company’s stock after acquiring an additional 3,420 shares during the period. Independence Bank of Kentucky’s holdings in MongoDB were worth $1,594,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. ValueAct Holdings L.P. raised its stake in MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after buying an additional 1,427,700 shares during the period. Norges Bank bought a new position in shares of MongoDB during the 4th quarter worth approximately $574,821,000. AQR Capital Management LLC increased its holdings in shares of MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after acquiring an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. raised its stake in MongoDB by 162.1% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after acquiring an additional 852,540 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in MongoDB by 162.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after acquiring an additional 678,746 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Down 5.7%

Shares of MongoDB stock traded down $20.79 during trading on Friday, reaching $342.08. The company’s stock had a trading volume of 1,401,758 shares, compared to its average volume of 1,434,766. The business’s 50-day moving average price is $330.89 and its 200-day moving average price is $327.77. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72. The firm has a market cap of $27.51 billion, a PE ratio of -924.54, a P/E/G ratio of 1,308.71 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.13. The business had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business’s revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $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 analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 1,130 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total transaction of $377,702.50. Following the transaction, the director owned 982,953 shares in the company, valued at $328,552,040.25. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value 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. This represents a 22.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 139,746 shares of company stock valued at $50,247,978 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Truist Financial raised their target price on shares of MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group lifted their target price on shares of MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Canaccord Genuity Group upped their price target on shares of MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Citigroup reissued a “buy” rating on shares of MongoDB in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $400.41.

MongoDB News Summary

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: KGI Securities upgraded MongoDB to strong-buy, adding to recent upbeat analyst sentiment around the stock. Zacks.com
• Positive Sentiment: Needham raised its price target on MongoDB to $430 from $400 and reiterated a buy rating, implying meaningful upside from current levels.
• Positive Sentiment: Truist also lifted its price target to $400 and kept a buy rating, reinforcing confidence in MongoDB’s growth outlook.
• Neutral Sentiment: MongoDB shareholders approved governance changes at the annual meeting, a routine corporate development that may be viewed as a long-term governance improvement. Article
• Neutral Sentiment: Citi highlighted AI beneficiaries ahead of software earnings, with MongoDB potentially benefiting from continued enterprise AI spending, though the note was broader industry commentary rather than a direct company-specific update. Article
• Negative Sentiment: Despite the favorable analyst action, MongoDB stock has been under pressure in recent trading, suggesting investors are taking profits or rotating out of the name even after positive fundamental and rating news. Article

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.