Amundi Boosts Stake in MongoDB, Inc. $MDB

Key Points

• Amundi increased its MongoDB stake by 17.8% in the first quarter, acquiring 56,888 additional shares for a total holding of 376,447 shares valued at approximately $92.1 million. Institutional investors collectively own 89.29% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $405.35; recent targets range as high as $470. MongoDB also exceeded quarterly expectations, reporting $1.32 in EPS and $687.62 million in revenue, up 25.2% year over year.
• Insiders have been selling shares, including Director Roelof Botha’s $17.5 million sale and CFO Michael J. Berry’s $1.8 million sale. Insiders sold 127,746 shares worth $47.3 million over the past 90 days.

Amundi boosted its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 17.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 376,447 shares of the company's stock after purchasing an additional 56,888 shares during the period. Amundi owned about 0.47% of MongoDB worth $92,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after purchasing an additional 61 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of MongoDB during the fourth quarter worth $33,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of MongoDB in the first quarter valued at $34,000. Root Financial Partners LLC raised its stake in shares of 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 acquiring an additional 32 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in MongoDB in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

MDB has been the subject of several analyst reports. Oppenheimer boosted their target price on MongoDB from $375.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Needham & Company LLC increased their price target on MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Rosenblatt Securities reiterated a "buy" rating and issued a $385.00 price objective on shares of MongoDB in a research note on Tuesday, May 26th. KGI Securities began coverage on MongoDB in a research report on Wednesday, July 8th. They set an "outperform" rating and a $470.00 price objective for the company. Finally, BMO Capital Markets upped their target price on shares of MongoDB from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus target price of $405.35.

MongoDB Stock Up 3.6%

MDB stock opened at $337.48 on Friday. The business has a 50 day moving average price of $336.10 and a 200 day moving average price of $316.65. The stock has a market cap of $27.14 billion, a price-to-earnings ratio of -912.11, a PEG ratio of 1,383.11 and a beta of 1.55. MongoDB, Inc. has a fifty-two week low of $198.47 and a fifty-two week high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. During the same period in the prior year, the firm posted $1.00 earnings per share. The firm'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. As a group, sell-side analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current year.

Insider Activity at MongoDB

In other news, Director Roelof Botha sold 44,050 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 150,550 shares of the company's stock, valued at approximately $59,929,438.50. This represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael J. Berry sold 5,000 shares of the company's stock in a transaction on 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 approximately $534,945. This trade represents a 76.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,746 shares of company stock valued at $47,343,538 over the last 90 days. 2.60% of the stock is owned by insiders.

MongoDB Company 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.

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