MongoDB, Inc. $MDB Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 1,732.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,893 shares of the company’s stock after buying an additional 9,353 shares during the period. Fifth Third Bancorp’s holdings in MongoDB were worth $2,422,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC raised its holdings in shares of MongoDB by 31.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after purchasing an additional 327 shares during the period. NewEdge Advisors LLC increased its position in MongoDB by 55.0% during the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock worth $743,000 after purchasing an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in MongoDB in the second quarter valued at approximately $329,000. Cresset Asset Management LLC lifted its position in MongoDB by 13.4% during the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock valued at $659,000 after buying an additional 370 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in MongoDB by 28.3% during the second quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock worth $2,565,000 after buying an additional 2,697 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDB has been the topic of a number of research reports. Citigroup reissued a “buy” rating on shares of MongoDB in a research note on Monday, June 8th. Rosenblatt Securities reissued a “buy” rating and issued a $385.00 price objective on shares of MongoDB in a research report on Tuesday, May 26th. Wedbush raised their price objective on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Weiss Ratings downgraded MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald increased their target price on MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.35.

Insider Activity

In other news, Director Hope F. Cochran sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director directly owned 29,326 shares in the company, valued at approximately $10,264,100. This represents a 3.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the sale, the director 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 disclosure for this sale is available in the SEC filing. Insiders have sold 127,746 shares of company stock worth $47,343,538 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

MongoDB Price Performance

MongoDB stock opened at $307.65 on Wednesday. MongoDB, Inc. has a 12-month low of $198.47 and a 12-month high of $444.72. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of -831.49, a price-to-earnings-growth ratio of 1,325.25 and a beta of 1.55. The firm’s fifty day moving average price is $337.07 and its 200 day moving average price is $321.91.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. During the same period last year, the firm earned $1.00 earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Analysts forecast that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

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.