Comerica Bank Acquires 52,996 Shares of MongoDB, Inc. $MDB

Key Points

• Comerica Bank increased its stake in MongoDB, Inc. by 326% in Q1 2023, owning 69,251 shares worth approximately $12.15 million.
• Institutional investors now hold 89.29% of MongoDB's stock, with significant increases from other major firms like Vanguard Group and Primecap Management.
• MongoDB reported a strong quarter with earnings of $1.00 per share, surpassing analysts' expectations, and has provided guidance for an EPS of 2.940-3.120 for FY 2026.

Comerica Bank raised its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 326.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,251 shares of the company's stock after buying an additional 52,996 shares during the period. Comerica Bank owned about 0.09% of MongoDB worth $12,147,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Cloud Capital Management LLC bought a new stake in MongoDB in the first quarter valued at approximately $25,000. Hollencrest Capital Management bought a new stake in shares of MongoDB in the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its stake in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 120 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of MongoDB by 247.9% in the 1st quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after purchasing an additional 290 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of MongoDB in the 1st quarter valued at $96,000. Institutional investors own 89.29% of the company's stock.

MongoDB Trading Down 0.8%

Shares of MDB traded down $2.49 during trading hours on Friday, reaching $315.61. The stock had a trading volume of 5,683,836 shares, compared to its average volume of 3,974,389. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The firm has a 50-day simple moving average of $222.93 and a 200 day simple moving average of $206.70. The company has a market capitalization of $25.79 billion, a price-to-earnings ratio of -322.05 and a beta of 1.44.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. The firm had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same period last year, the firm earned $0.51 earnings per share. The business's quarterly revenue was up 21.8% compared to the same quarter last year. MongoDB has set its FY 2026 guidance at 2.940-3.120 EPS. Q2 2026 guidance at 0.620-0.660 EPS. On average, equities analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Activity

In other news, CEO Dev Ittycheria sold 25,005 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the transaction, the chief executive officer owned 256,974 shares in the company, valued at $60,131,916. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the completion of the transaction, the director owned 1,107,006 shares in the company, valued at $259,039,404. This represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,416 shares of company stock worth $11,936,656 over the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of research analyst reports. Truist Financial upped their price target on shares of MongoDB from $275.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday. William Blair restated an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. Wedbush restated an "outperform" rating and set a $300.00 price target on shares of MongoDB in a report on Wednesday. Stifel Nicolaus increased their price target on MongoDB from $275.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Piper Sandler increased their price target on MongoDB from $275.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $310.86.

MongoDB Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.