Independence Bank of Kentucky Acquires 3,420 Shares of MongoDB, Inc. $MDB

Key Points

• Independence Bank of Kentucky increased its MongoDB stake by 110.6% in the first quarter, buying 3,420 additional shares and bringing its total position to 6,512 shares valued at about $1.59 million.
• MongoDB’s latest quarterly results topped expectations, with EPS of $1.32 versus the $1.19 estimate and revenue of $687.6 million, up 25.2% year over year. The company also issued FY2027 and Q2 2027 guidance above current analyst expectations.
• Analyst sentiment remains broadly positive: several firms raised price targets, including Needham to $430 and Truist to $400, while the consensus rating stands at Moderate Buy with an average target of $400.41.

Independence Bank of Kentucky lifted its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 110.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,512 shares of the company's stock after purchasing an additional 3,420 shares during the period. Independence Bank of Kentucky's holdings in MongoDB were worth $1,594,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Kinetic Partners Management LP boosted its position in shares of MongoDB by 27.2% during the third quarter. Kinetic Partners Management LP now owns 195,769 shares of the company's stock worth $60,763,000 after purchasing an additional 41,810 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of MongoDB by 115.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company's stock valued at $148,872,000 after buying an additional 189,820 shares in the last quarter. Jericho Capital Asset Management L.P. raised its stake in MongoDB by 162.1% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company's stock worth $427,871,000 after buying an additional 852,540 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in MongoDB by 69.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company's stock worth $145,029,000 after buying an additional 141,755 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in MongoDB by 611.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company's stock worth $300,120,000 after acquiring an additional 614,559 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

Shares of MDB traded down $20.79 during mid-day trading on Friday, hitting $342.08. 1,401,758 shares of the company's stock were exchanged, compared to its average volume of 1,434,766. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72. The company has a 50-day simple moving average of $330.89 and a 200 day simple moving average of $327.77. The company has a market cap of $27.51 billion, a PE ratio of -924.54, a P/E/G ratio of 1,308.71 and a beta of 1.55.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (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 firm had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. During the same period in the previous year, the business earned $1.00 EPS. 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, analysts anticipate that MongoDB, Inc. will post 0.02 earnings per share for the current year.

More MongoDB News

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: KGI Securities upgraded MongoDB to strong-buy, adding to recent upbeat analyst sentiment around the stock. Zacks.com
• Positive Sentiment: Needham raised its price target on MongoDB to $430 from $400 and reiterated a buy rating, implying meaningful upside from current levels.
• Positive Sentiment: Truist also lifted its price target to $400 and kept a buy rating, reinforcing confidence in MongoDB’s growth outlook.
• Neutral Sentiment: MongoDB shareholders approved governance changes at the annual meeting, a routine corporate development that may be viewed as a long-term governance improvement. Article
• Neutral Sentiment: Citi highlighted AI beneficiaries ahead of software earnings, with MongoDB potentially benefiting from continued enterprise AI spending, though the note was broader industry commentary rather than a direct company-specific update. Article
• Negative Sentiment: Despite the favorable analyst action, MongoDB stock has been under pressure in recent trading, suggesting investors are taking profits or rotating out of the name even after positive fundamental and rating news. Article

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dev Ittycheria sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the transaction, the director owned 161,762 shares of the company's stock, valued at $61,980,727.92. The trade was a 19.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hope F. Cochran sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the director owned 29,326 shares in the company, valued at approximately $10,264,100. This represents a 3.30% decrease in their position. 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 a total of 139,746 shares of company stock valued at $50,247,978 in the last ninety days. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BMO Capital Markets increased their price target on MongoDB from $360.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Wedbush increased their target price on MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Citizens Jmp restated a "market outperform" rating and set a $366.00 target price on shares of MongoDB in a report on Friday, May 29th. Scotiabank reaffirmed an "outperform" rating on shares of MongoDB in a research note on Friday, May 29th. Finally, Monness Crespi & Hardt upped their price target on shares of MongoDB from $370.00 to $415.00 and gave the company a "buy" rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $400.41.

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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