Bank of New York Mellon Corp Sells 54,177 Shares of MongoDB, Inc. $MDB

Bank of New York Mellon Corp trimmed its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 11.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 421,528 shares of the company’s stock after selling 54,177 shares during the period. Bank of New York Mellon Corp owned approximately 0.52% of MongoDB worth $103,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of MongoDB in the fourth quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of MongoDB in the fourth quarter worth approximately $33,000. Root Financial Partners LLC boosted its holdings in shares of MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after buying an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new position in MongoDB in the fourth quarter worth approximately $38,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of MDB stock opened at $323.36 on Tuesday. The company has a market cap of $26.01 billion, a PE ratio of -873.95, a price-to-earnings-growth ratio of 1,126.44 and a beta of 1.55. MongoDB, Inc. has a 1 year low of $198.47 and a 1 year high of $444.72. The stock’s 50 day simple moving average is $337.09 and its two-hundred day simple moving average is $322.70.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The company 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 firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the company 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 expect that MongoDB, Inc. will post 0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Scotiabank reissued an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. UBS Group upped 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. Stifel Nicolaus set a $435.00 price objective on MongoDB in a research report on Friday, May 29th. Wall Street Zen raised shares of MongoDB from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, KGI Securities assumed coverage on shares of MongoDB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $470.00 price target on the stock. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $405.35.

Insiders Place Their Bets

In other MongoDB news, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total value of $17,534,983.50. Following the transaction, the director owned 150,550 shares in the company, valued at $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction on Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the transaction, the chief financial officer directly owned 1,500 shares in the company, valued at $534,945. This represents a 76.92% 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. In the last three months, insiders sold 127,746 shares of company stock worth $47,343,538. Insiders own 2.60% of the company’s stock.

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.