Azzad Asset Management Inc. ADV Buys 11,965 Shares of MongoDB, Inc. $MDB

Key Points

• Azzad Asset Management sharply increased its MongoDB position in Q1, buying 11,965 shares and lifting its stake by 891.6% to 13,307 shares worth about $3.26 million.
• MongoDB reported better-than-expected quarterly results, with EPS of $1.32 versus $1.19 expected and revenue of $687.62 million, up 25.2% year over year.
• Despite strong results, insider selling has been notable: CFO Michael J. Berry and Director Hope F. Cochran both sold shares, and insiders have sold $50.2 million worth over the last 90 days.

Azzad Asset Management Inc. ADV lifted its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 891.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,307 shares of the company's stock after buying an additional 11,965 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in MongoDB were worth $3,257,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its position in shares of MongoDB by 31.6% in the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company's stock worth $239,000 after buying an additional 327 shares in the last quarter. NewEdge Advisors LLC raised its stake in MongoDB by 55.0% during the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company's stock valued at $743,000 after purchasing an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC bought a new position in MongoDB during the second quarter valued at $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 purchasing an additional 370 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of MongoDB by 28.3% in the 2nd 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 in the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Trading Up 1.0%

MDB opened at $362.87 on Friday. MongoDB, Inc. has a 12-month low of $198.47 and a 12-month high of $444.72. The business's fifty day simple moving average is $329.22 and its 200-day simple moving average is $327.67. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of -980.73, a PEG ratio of 1,296.20 and a beta of 1.55.

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. The firm had revenue of $687.62 million for 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%.The business's revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the firm 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, equities research analysts predict that MongoDB, Inc. will post 0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MDB shares. Guggenheim restated a "buy" rating and issued a $475.00 target price on shares of MongoDB in a report on Friday, May 29th. Tigress Financial increased their price target on MongoDB from $430.00 to $515.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Rosenblatt Securities reissued a "buy" rating and issued a $385.00 target price on shares of MongoDB in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of MongoDB from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Finally, KGI Securities initiated coverage on shares of MongoDB in a research report on Wednesday. They issued an "outperform" rating and a $470.00 price objective on the stock. Twenty-eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $399.47.

Insider Activity at MongoDB

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction on Monday, June 15th. The shares were sold at an average price of $356.63, for a total value of $1,783,150.00. Following the transaction, the chief financial officer directly owned 1,500 shares of the company's stock, valued at approximately $534,945. The trade was a 76.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the director directly owned 29,326 shares in the company, valued at $10,264,100. This represents a 3.30% 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. Insiders have sold 139,746 shares of company stock valued at $50,247,978 over the last 90 days. Company insiders own 2.60% of the company's stock.

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.

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