Royal Bank of Canada Sells 19,050 Shares of MongoDB, Inc. $MDB

Royal Bank of Canada reduced its holdings in MongoDB, Inc. (NASDAQ:MDB) by 6.8% during the 1st quarter, HoldingsChannel reports. The firm owned 261,902 shares of the company’s stock after selling 19,050 shares during the quarter. Royal Bank of Canada’s holdings in MongoDB were worth $64,106,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. ValueAct Holdings L.P. lifted its position in shares of MongoDB by 206.8% during the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares during the last quarter. Norges Bank acquired a new stake in MongoDB in the 4th quarter valued at approximately $574,821,000. AQR Capital Management LLC increased its position in MongoDB by 2,567.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after buying an additional 1,069,969 shares during the period. Massachusetts Financial Services Co. MA increased its position in MongoDB by 611.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock worth $300,120,000 after buying an additional 614,559 shares during the period. Finally, Amundi lifted its holdings in shares of MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after buying an additional 563,995 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insider Transactions at MongoDB

In other news, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the transaction, the director directly owned 161,762 shares of the company’s stock, valued at approximately $61,980,727.92. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 1,130 shares of MongoDB stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $334.25, for a total transaction of $377,702.50. Following the sale, the director owned 982,953 shares in the company, valued at approximately $328,552,040.25. This trade represents a 0.11% 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. Over the last three months, insiders have sold 127,746 shares of company stock worth $47,343,538. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen lowered shares of MongoDB from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Robert W. Baird upped their target price on shares of MongoDB from $260.00 to $335.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Bank of America increased their price target on shares of MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Mizuho raised their price target on shares of MongoDB from $325.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $405.35.

MongoDB Trading Up 3.6%

Shares of NASDAQ:MDB opened at $337.48 on Friday. MongoDB, Inc. has a 1-year low of $198.47 and a 1-year high of $444.72. The firm has a market capitalization of $27.14 billion, a PE ratio of -912.11, a PEG ratio of 1,383.11 and a beta of 1.55. The business’s 50 day moving average is $336.10 and its 200-day moving average is $316.65.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.MongoDB’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the company 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, sell-side analysts predict that MongoDB, Inc. will post 0.02 EPS for the current year.

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.