Empowered Funds LLC Sells 9,596 Shares of MongoDB, Inc. $MDB

Key Points

• Empowered Funds LLC cut its MongoDB stake by 48.8% during the first quarter, selling 9,596 shares and retaining 10,082 shares valued at approximately $2.47 million. Institutional investors collectively own 89.29% of the company.
• MongoDB exceeded quarterly expectations, reporting $1.32 in earnings per share versus the $1.19 consensus and revenue of $687.62 million, up 25.2% year over year.
• Analysts maintain a favorable outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $405.35. Company insiders sold 125,746 shares worth about $46.8 million in the latest quarter.

Empowered Funds LLC decreased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 48.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,082 shares of the company's stock after selling 9,596 shares during the quarter. Empowered Funds LLC's holdings in MongoDB were worth $2,468,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Cornerstone Planning Group LLC grew its holdings in MongoDB by 1,220.0% in 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 position in shares of MongoDB during the fourth quarter valued at approximately $33,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of MongoDB in the 1st quarter worth approximately $34,000. Root Financial Partners LLC raised its stake in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company's stock valued at $37,000 after buying an additional 32 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in MongoDB by 79.7% in the second quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $46,000 after acquiring an additional 98 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Price Performance

Shares of MongoDB stock opened at $376.36 on Thursday. The stock has a market cap of $30.27 billion, a price-to-earnings ratio of -1,017.19, a PEG ratio of 1,557.54 and a beta of 1.55. The firm's 50-day moving average is $339.83 and its two-hundred day moving average is $315.42. MongoDB, Inc. has a 1 year low of $198.47 and a 1 year high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The company's revenue was up 25.2% compared to the same quarter last year. 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 analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $353.91, for a total transaction of $3,539,100.00. Following the transaction, the director directly owned 983,316 shares in the company, valued at $348,005,365.56. The trade was a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total value of $538,782.30. Following the completion of the sale, the director owned 25,444 shares of the company's stock, valued at $8,754,008.20. This trade represents a 5.80% 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 sold 125,746 shares of company stock worth $46,763,418 in the last quarter. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MDB shares. Rosenblatt Securities reissued a "buy" rating and set a $385.00 price target on shares of MongoDB in a research report on Tuesday, May 26th. KGI Securities assumed coverage on MongoDB in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $470.00 price objective on the stock. Scotiabank reiterated an "outperform" rating on shares of MongoDB in a research note on Friday, May 29th. Wedbush increased their target price on MongoDB from $380.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Finally, Morgan Stanley lifted their target price on MongoDB from $335.00 to $380.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $405.35.

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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