Connor Clark & Lunn Investment Management Ltd. Sells 2,230 Shares of MongoDB, Inc. $MDB

Key Points

• Connor Clark & Lunn Investment Management Ltd. has decreased its position in MongoDB, Inc. by 25.2%, holding 6,631 shares worth approximately $1.16 million after selling 2,230 shares.
• Several institutional investors, including Primecap Management Co. and Vanguard Group Inc., have increased their stakes in MongoDB, highlighting strong interest in the stock, which is currently owned 89.29% by institutional investors.
• MongoDB reported a revenue growth of 21.8% year-over-year, with quarterly earnings exceeding analyst expectations, marking a positive financial performance despite a negative return on equity.

Connor Clark & Lunn Investment Management Ltd. cut its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,631 shares of the company's stock after selling 2,230 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in MongoDB were worth $1,163,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MDB. Primecap Management Co. CA grew its stake in shares of MongoDB by 863.5% in the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock valued at $152,694,000 after buying an additional 780,200 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of MongoDB in the 1st quarter worth approximately $128,706,000. Vanguard Group Inc. raised its holdings in shares of MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock worth $1,369,833,000 after purchasing an additional 481,023 shares during the period. Deutsche Bank AG raised its holdings in shares of MongoDB by 134.6% in the 1st quarter. Deutsche Bank AG now owns 690,774 shares of the company's stock worth $121,162,000 after purchasing an additional 396,311 shares during the period. Finally, D1 Capital Partners L.P. purchased a new position in MongoDB in the 4th quarter valued at approximately $76,129,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Down 3.7%

Shares of NASDAQ MDB traded down $8.45 during mid-day trading on Tuesday, reaching $218.61. 1,760,454 shares of the company were exchanged, compared to its average volume of 2,315,104. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00. The stock has a market capitalization of $17.86 billion, a PE ratio of -191.76 and a beta of 1.44. The company's 50 day moving average price is $215.59 and its 200 day moving average price is $208.31.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same period in the previous year, the firm posted $0.51 EPS. The firm's 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, sell-side analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

MDB has been the subject of a number of recent research reports. Guggenheim reiterated a "buy" rating and issued a $260.00 price objective on shares of MongoDB in a research note on Thursday, August 14th. Wedbush reiterated an "outperform" rating and issued a $300.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. Scotiabank lifted their price objective on shares of MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. William Blair reiterated an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. Finally, Wolfe Research started coverage on shares of MongoDB in a research report on Wednesday, July 9th. They set an "outperform" rating and a $280.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $283.46.

Insider Transactions at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction on Monday, July 28th. The shares were sold at an average price of $243.89, for a total transaction of $2,032,823.15. Following the completion of the sale, the chief executive officer directly owned 236,557 shares of the company's stock, valued at approximately $57,693,886.73. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 1,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the completion of the sale, the director directly owned 1,104,316 shares of the company's stock, valued at $270,557,420. This represents a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,416 shares of company stock valued at $11,936,656. Insiders own 3.10% of the company's stock.

About MongoDB

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.