MongoDB, Inc. $MDB Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System reduced its MongoDB stake by 2.7% in the first quarter, selling 3,644 shares and ending with 131,197 shares valued at about $32.1 million.
• MongoDB shares were down 4.9% to $307.65, even as the company reported quarterly EPS of $1.32 and revenue of $687.6 million, both ahead of analyst estimates.
• Insider selling has been notable, including CFO Michael J. Berry and Director Dev Ittycheria, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $405.35.

California Public Employees Retirement System lessened its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,197 shares of the company's stock after selling 3,644 shares during the period. California Public Employees Retirement System owned approximately 0.16% of MongoDB worth $32,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDB. Cornerstone Planning Group LLC lifted its stake in shares of MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in MongoDB during the 4th quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new stake in MongoDB during the 4th quarter worth approximately $33,000. Root Financial Partners LLC raised its holdings in MongoDB by 58.2% in 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 period. Finally, Global Trust Asset Management LLC acquired a new position in MongoDB during the fourth quarter valued at approximately $38,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Trading Down 4.9%

Shares of MDB stock opened at $307.65 on Wednesday. The company has a market capitalization of $24.74 billion, a PE ratio of -831.49, a price-to-earnings-growth ratio of 1,325.25 and a beta of 1.55. The firm has a fifty day simple moving average of $337.07 and a 200-day simple moving average of $321.91. MongoDB, Inc. has a twelve month low of $198.47 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating 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 analyst estimates of $664.53 million. During the same period last year, the business earned $1.00 EPS. The business's revenue was up 25.2% on a year-over-year basis. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Equities research analysts predict that MongoDB, Inc. will post 0.02 EPS for the current year.

Insider Activity at MongoDB

In related news, CFO Michael J. Berry sold 5,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the transaction, the chief financial officer owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the completion of the transaction, the director directly owned 161,762 shares of the company's stock, valued at $61,980,727.92. This represents a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 127,746 shares of company stock valued at $47,343,538. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MDB has been the subject of several recent research reports. DA Davidson reissued a "buy" rating and issued a $375.00 price objective on shares of MongoDB in a research report on Friday, May 29th. Piper Sandler lifted their target price on shares of MongoDB from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, May 29th. Mizuho upped their price target on shares of MongoDB from $325.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. KGI Securities initiated coverage on MongoDB in a report on Wednesday, July 8th. They issued an "outperform" rating and a $470.00 price target for the company. Finally, Robert W. Baird raised their price objective on MongoDB from $260.00 to $335.00 and gave the company a "neutral" rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and an average 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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