CI Investments Inc. Has $52.28 Million Stock Position in MongoDB, Inc. $MDB

CI Investments Inc. increased its stake in MongoDB, Inc. (NASDAQ:MDB) by 81.2% during the first quarter, Holdings Channel reports. The firm owned 213,604 shares of the company’s stock after acquiring an additional 95,715 shares during the period. CI Investments Inc.’s holdings in MongoDB were worth $52,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westpac Banking Corp increased its holdings in MongoDB by 28.6% in the 1st quarter. Westpac Banking Corp now owns 1,555 shares of the company’s stock valued at $381,000 after buying an additional 346 shares during the period. PNC Financial Services Group Inc. raised its position in shares of MongoDB by 15.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,492 shares of the company’s stock valued at $855,000 after buying an additional 458 shares in the last quarter. Andra AP fonden lifted its holdings in shares of MongoDB by 84.2% during the 1st quarter. Andra AP fonden now owns 49,520 shares of the company’s stock worth $12,121,000 after acquiring an additional 22,636 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of MongoDB during the 1st quarter worth approximately $34,000. Finally, Earned Wealth Advisors LLC boosted its position in shares of MongoDB by 15.0% during the 1st quarter. Earned Wealth Advisors LLC now owns 1,452 shares of the company’s stock worth $355,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Activity at MongoDB

In other MongoDB news, Director Dev Ittycheria sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the completion of the transaction, the director owned 161,762 shares of the company’s stock, valued at $61,980,727.92. This represents a 19.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 1,130 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $334.25, for a total value of $377,702.50. Following the completion of the transaction, the director owned 982,953 shares of the company’s stock, valued at $328,552,040.25. This represents a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,746 shares of company stock worth $47,343,538 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

MongoDB Price Performance

MDB stock opened at $307.65 on Wednesday. The stock has a market cap of $24.74 billion, a price-to-earnings ratio of -831.49, a P/E/G ratio of 1,325.25 and a beta of 1.55. The company has a 50 day simple moving average of $337.07 and a 200 day simple moving average of $321.91. MongoDB, Inc. has a 1 year low of $198.47 and a 1 year high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The firm had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the business posted $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. On average, equities research analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Analyst Ratings Changes

MDB has been the subject of several research analyst reports. Guggenheim restated a “buy” rating and set a $475.00 price objective on shares of MongoDB in a research report on Friday, May 29th. DA Davidson reaffirmed a “buy” rating and issued a $375.00 target price on shares of MongoDB in a report on Friday, May 29th. Barclays lifted their price target on MongoDB from $370.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Mizuho boosted their price target on MongoDB from $325.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Stifel Nicolaus set a $435.00 price objective on MongoDB in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $405.35.

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.