Saudi Central Bank Increases Stake in MongoDB, Inc. $MDB

Saudi Central Bank boosted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 82.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 5,485 shares of the company’s stock after acquiring an additional 2,481 shares during the quarter. Saudi Central Bank’s holdings in MongoDB were worth $1,842,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Root Financial Partners LLC boosted its holdings in MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares during the last quarter. Moody National Bank Trust Division boosted its position in MongoDB by 3.1% in the 2nd quarter. Moody National Bank Trust Division now owns 1,123 shares of the company’s stock worth $377,000 after purchasing an additional 34 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of MongoDB by 2.5% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock worth $626,000 after purchasing an additional 36 shares during the period. Basecamp Wealth Advisors LLC increased its holdings in shares of MongoDB by 14.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 287 shares of the company’s stock valued at $70,000 after purchasing an additional 36 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of MongoDB by 3.4% during the 4th quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock valued at $458,000 after purchasing an additional 36 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDB. Morgan Stanley upped their price objective on shares of MongoDB from $380.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Guggenheim reissued a “buy” rating and issued a $560.00 price objective on shares of MongoDB in a report on Wednesday, September 2nd. Truist Financial boosted their price objective on MongoDB from $400.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Needham & Company LLC reiterated a “buy” rating and set a $430.00 target price on shares of MongoDB in a research report on Wednesday, September 2nd. Finally, KGI Securities started coverage on shares of MongoDB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $470.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $471.81.

MongoDB Price Performance

NASDAQ MDB opened at $356.00 on Wednesday. The stock’s 50 day simple moving average is $375.28 and its 200-day simple moving average is $322.57. The company has a market cap of $28.63 billion, a PE ratio of 501.41, a price-to-earnings-growth ratio of 38.75 and a beta of 1.58. MongoDB, Inc. has a 1-year low of $215.68 and a 1-year high of $473.10.

MongoDB (NASDAQ:MDB) last issued 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 return on equity of 1.06% and a net margin of 2.12%.The firm had revenue of $771.77 million during the quarter, compared to analysts’ expectations of $735.01 million. During the same period in the previous year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. 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, equities research analysts anticipate that MongoDB, Inc. will post 0.48 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Dwight Merriman sold 6,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $451.75, for a total transaction of $2,710,500.00. Following the completion of the sale, the director owned 452,896 shares of the company’s stock, valued at $204,595,768. This represents a 1.31% decrease in their ownership of the stock. 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, CFO Michael Berry sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the sale, the chief financial officer owned 1,500 shares of the company’s stock, valued at $534,945. This trade represents a 76.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,696 shares of company stock valued at $16,098,655 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

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.