MongoDB, Inc. $MDB Position Reduced by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp reduced its MongoDB stake by 27.1% in the fourth quarter, though it still held 475,705 shares valued at about $199.6 million.
• MongoDB reported better-than-expected quarterly results, with EPS of $1.32 versus estimates of $1.19 and revenue of $687.6 million, up 25.2% year over year.
• Analyst sentiment remains broadly positive despite some mixed views: MongoDB has a Moderate Buy consensus rating and an average price target of $394.45, while insiders have also been selling shares recently.

Bank of New York Mellon Corp cut its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 27.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 475,705 shares of the company's stock after selling 176,394 shares during the quarter. Bank of New York Mellon Corp owned 0.58% of MongoDB worth $199,649,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MDB. Cramer Rosenthal Mcglynn LLC lifted its stake in shares of MongoDB by 897.7% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company's stock worth $17,938,000 after purchasing an additional 52,002 shares during the period. Kinetic Partners Management LP increased its stake in shares of MongoDB by 27.2% during the 3rd quarter. Kinetic Partners Management LP now owns 195,769 shares of the company's stock valued at $60,763,000 after acquiring an additional 41,810 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of MongoDB by 115.1% during 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 acquiring an additional 189,820 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of MongoDB by 5.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,936 shares of the company's stock valued at $8,981,000 after acquiring an additional 1,415 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of MongoDB by 69.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company's stock valued at $145,029,000 after acquiring an additional 141,755 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

NASDAQ:MDB opened at $350.74 on Friday. The company has a market capitalization of $28.19 billion, a price-to-earnings ratio of -947.95 and a beta of 1.57. MongoDB, Inc. has a one year low of $196.00 and a one year high of $444.72. The stock has a 50-day simple moving average of $285.37 and a 200 day simple moving average of $334.35.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. During the same period last year, the firm earned $1.00 earnings per share. The company's revenue for the quarter 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 research analysts forecast that MongoDB, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MDB has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of MongoDB from $275.00 to $350.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Sanford C. Bernstein cut shares of MongoDB from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 3rd. Guggenheim reissued a "buy" rating and set a $475.00 price objective on shares of MongoDB in a research note on Friday, May 29th. Citigroup reissued a "market outperform" rating on shares of MongoDB in a research note on Friday, May 29th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $395.00 price objective on shares of MongoDB in a research note on Tuesday, May 19th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $394.45.

Insider Buying and Selling

In related news, Director Roelof Botha sold 44,050 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the sale, the director owned 150,550 shares in the company, valued at $59,929,438.50. This represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the transaction, the director directly owned 24,093 shares of the company's stock, valued at $6,007,107.69. This trade represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 76,616 shares of company stock worth $26,629,774 over the last ninety days. 2.60% of the stock is owned by insiders.

MongoDB 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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