MongoDB, Inc. $MDB Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its MongoDB stake by 32,986.4% in the second quarter, acquiring 39.4 million additional shares and reaching roughly 49.15% ownership. Institutional investors collectively own 89.29% of the company.
• MongoDB reported quarterly EPS of $1.90, exceeding estimates of $1.62, while revenue rose 30.5% year over year to $771.77 million. Shares opened at $356, down 3.5%, with a market capitalization of approximately $28.63 billion.
• Analysts remain bullish, with MongoDB holding a consensus “Moderate Buy” rating and an average price target of $471.81; recent targets range from $465 to $560. Insiders, however, sold about $16.1 million of stock over the past 90 days.

California State Teachers Retirement System boosted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 32,986.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,528,376 shares of the company's stock after purchasing an additional 39,408,906 shares during the period. California State Teachers Retirement System owned about 49.15% of MongoDB worth $13,277,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in MongoDB in the fourth quarter valued at $33,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of MongoDB during the 1st quarter valued at approximately $34,000. Smallwood Wealth Investment Management LLC purchased a new stake in MongoDB in the 2nd quarter worth $34,000. NBH Bank acquired a new position in MongoDB during the second quarter worth $34,000. Finally, CX Institutional raised its position in MongoDB by 94.3% during the second quarter. CX Institutional now owns 103 shares of the company's stock worth $35,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Stock Down 3.5%

Shares of MDB opened at $356.00 on Wednesday. MongoDB, Inc. has a 52-week low of $215.68 and a 52-week high of $473.10. The company has a market capitalization of $28.63 billion, a PE ratio of 501.41, a price-to-earnings-growth ratio of 38.75 and a beta of 1.58. The stock has a fifty day simple moving average of $375.28 and a two-hundred day simple moving average of $322.57.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.28. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The firm had revenue of $771.77 million for the quarter, compared to analysts' expectations of $735.01 million. During the same quarter in the previous year, the company posted $1.00 EPS. The company's revenue was up 30.5% compared to the same quarter last year. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. As a group, equities analysts anticipate that MongoDB, Inc. will post 0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial upped their price target on shares of MongoDB from $400.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Barclays boosted their price objective on MongoDB from $460.00 to $480.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 2nd. DA Davidson reissued a "buy" rating and set a $465.00 target price on shares of MongoDB in a report on Wednesday, September 2nd. Piper Sandler restated an "overweight" rating and issued a $470.00 target price (up from $400.00) on shares of MongoDB in a research report on Wednesday, September 2nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $560.00 price target on shares of MongoDB in a research note on Wednesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and an average price target of $471.81.

Insiders Place Their Bets

In other news, Director Hope F. Cochran sold 1,566 shares of the firm'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 transaction of $538,782.30. Following the completion of the sale, the director owned 25,444 shares in the company, valued at $8,754,008.20. This trade represents a 5.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the sale, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,696 shares of company stock valued at $16,098,655 over the last ninety days. Company insiders own 2.60% of the company's stock.

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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