Northern Trust Corp Acquires 9,802 Shares of MongoDB, Inc. $MDB

Key Points

• Northern Trust Corp increased its stake in MongoDB, Inc. by 2.1% in the first quarter, owning a total of 477,812 shares valued at $83.8 million.
• CEO Dev Ittycheria sold 25,005 shares of MongoDB at an average price of $234, reducing his ownership by 8.87% to 256,974 shares.
• The company reported a $1.00 EPS for the last quarter, exceeding analysts' expectations by $0.35, with a revenue increase of 21.8% year-over-year.

Northern Trust Corp boosted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,812 shares of the company's stock after acquiring an additional 9,802 shares during the period. Northern Trust Corp owned 0.59% of MongoDB worth $83,808,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in shares of MongoDB during the first quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new position in shares of MongoDB during the first quarter valued at approximately $26,000. Cullen Frost Bankers Inc. raised its holdings in shares of MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 120 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of MongoDB by 247.9% during the first quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after purchasing an additional 290 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of MongoDB by 15.9% during the first quarter. Fifth Third Bancorp now owns 569 shares of the company's stock valued at $100,000 after purchasing an additional 78 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Performance

Shares of MDB traded down $8.71 during mid-day trading on Friday, reaching $309.39. The stock had a trading volume of 3,757,394 shares, compared to its average volume of 2,509,545. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of -315.91 and a beta of 1.44. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The business has a fifty day moving average of $220.64 and a 200 day moving average of $207.09.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.76%. The company's revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. MongoDB has set its FY 2026 guidance at 2.940-3.120 EPS. Q2 2026 guidance at 0.620-0.660 EPS. On average, research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director owned 21,096 shares in the company, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $468,000.00. Following the transaction, the director owned 1,107,006 shares of the company's stock, valued at approximately $259,039,404. This represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of MongoDB from $260.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday. Oppenheimer boosted their price objective on shares of MongoDB from $275.00 to $325.00 and gave the company an "outperform" rating in a report on Wednesday. Citigroup boosted their price objective on shares of MongoDB from $405.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday. Zacks Research raised shares of MongoDB to a "hold" rating in a report on Friday, August 8th. Finally, Loop Capital cut shares of MongoDB from a "buy" rating to a "hold" rating and reduced their target price for the company from $350.00 to $190.00 in a report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $310.86.

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.