14,439 MongoDB, Inc. $MDB Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA reduced its MongoDB position by 4.8%, selling 14,439 shares in the third quarter. It retained 286,795 shares, valued at about $99.9 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $461.91; recent targets range from $375 to $519.
• MongoDB beat quarterly earnings and revenue estimates, reporting EPS of $1.90 and revenue of $771.77 million, up 30.5% year over year.

Pictet Asset Management Holding SA trimmed its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,795 shares of the company's stock after selling 14,439 shares during the quarter. Pictet Asset Management Holding SA owned about 0.36% of MongoDB worth $99,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new stake in MongoDB in the second quarter worth approximately $34,000. NBH Bank acquired a new position in MongoDB in the second quarter valued at approximately $34,000. CX Institutional lifted its stake in MongoDB by 94.3% in the second quarter. CX Institutional now owns 103 shares of the company's stock valued at $35,000 after buying an additional 50 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in MongoDB in the first quarter valued at approximately $34,000. Finally, WPG Advisers LLC boosted its holdings in shares of MongoDB by 49.1% during the 3rd quarter. WPG Advisers LLC now owns 167 shares of the company's stock worth $58,000 after buying an additional 55 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on MDB shares. Citizens Jmp reaffirmed a "market outperform" rating and set a $519.00 price objective on shares of MongoDB in a research report on Wednesday, September 30th. UBS Group dropped their target price on shares of MongoDB from $410.00 to $375.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 30th. Truist Financial boosted their target price on shares of MongoDB from $400.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Rosenblatt Securities increased their target price on shares of MongoDB from $395.00 to $445.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Finally, Scotiabank restated a "sector outperform" rating and issued a $450.00 price target (up from $440.00) on shares of MongoDB in a report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $461.91.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $327.37 on Tuesday. MongoDB, Inc. has a 52-week low of $215.68 and a 52-week high of $473.10. The business's 50 day simple moving average is $370.97 and its two-hundred day simple moving average is $336.99. The firm has a market cap of $26.37 billion, a P/E ratio of 461.08, a PEG ratio of 29.90 and a beta of 1.74.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, beating 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 the consensus estimate of $735.01 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company's quarterly revenue 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 analysts forecast that MongoDB, Inc. will post 0.50 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, Director Archana Agrawal sold 1,000 shares of MongoDB stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $400.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director directly owned 4,328 shares in the company, valued at $1,731,200. This trade represents a 18.77% decrease in their ownership of the stock. The sale 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, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $375.92, for a total transaction of $375,920.00. Following the transaction, the director owned 28,326 shares of the company's stock, valued at $10,648,309.92. This represents a 3.41% 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. Over the last 90 days, insiders have sold 52,465 shares of company stock worth $20,382,936. Company insiders own 2.60% of the company's stock.

About MongoDB

MongoDB, Inc develops database software and related services for businesses and developers. Its core product, MongoDB, is a document database designed to store and manage data in a flexible format for applications across a range of industries and use cases.

The company offers MongoDB Atlas, a managed cloud database service available across major cloud platforms, as well as software that customers can deploy in their own environments. MongoDB also provides tools and services for application development, database management, security, and data operations.

Founded in 2007 as 10gen, the company introduced its database software under the MongoDB name and later adopted that name as its corporate identity.

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