MongoDB, Inc. $MDB Stock Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its MongoDB stake by 19.4% in the third quarter, adding 54,907 shares to hold 337,780 shares valued at about $118.8 million.
• MongoDB reported quarterly revenue of $771.8 million, up 30.5% year over year, and earnings per share of $1.90, beating analyst estimates for both.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $461.91; company insiders sold 52,465 shares worth about $20.4 million over the past three months.

Allspring Global Investments Holdings LLC increased its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 19.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 337,780 shares of the company's stock after buying an additional 54,907 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.42% of MongoDB worth $118,807,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Evergreen Capital Management LLC lifted its position in shares of MongoDB by 3.2% in the third quarter. Evergreen Capital Management LLC now owns 1,001 shares of the company's stock worth $349,000 after purchasing an additional 31 shares in the last quarter. Brighton Jones LLC grew its position in MongoDB by 0.5% in the third quarter. Brighton Jones LLC now owns 6,885 shares of the company's stock valued at $2,400,000 after purchasing an additional 32 shares in the last quarter. Moody National Bank Trust Division grew its position in MongoDB by 3.1% in the second quarter. Moody National Bank Trust Division now owns 1,123 shares of the company's stock valued at $377,000 after purchasing an additional 34 shares in the last quarter. Columbia Bank grew its position in MongoDB by 2.4% in the third quarter. Columbia Bank now owns 1,422 shares of the company's stock valued at $496,000 after purchasing an additional 34 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC grew its position in MongoDB by 14.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 287 shares of the company's stock valued at $70,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Price Performance

NASDAQ:MDB opened at $327.37 on Tuesday. MongoDB, Inc. has a one year low of $215.68 and a one year high of $473.10. The company has a market cap of $26.37 billion, a P/E ratio of 461.08, a P/E/G ratio of 29.90 and a beta of 1.74. The firm's fifty day moving average price is $370.97 and its two-hundred day moving average price is $336.99.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.28. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. The firm had revenue of $771.77 million for the quarter, compared to analysts' expectations of $735.01 million. During the same quarter last year, the business earned $1.00 EPS. The company's quarterly 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 research analysts expect that MongoDB, Inc. will post 0.50 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In related news, Director Dwight Merriman sold 9,275 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $347.17, for a total value of $3,220,001.75. Following the completion of the sale, the director directly owned 72,987 shares in the company, valued at approximately $25,338,896.79. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Hazard, Jr. sold 595 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $350.46, for a total value of $208,523.70. Following the sale, the director directly owned 44,642 shares in the company, valued at $15,645,235.32. This represents a 1.32% 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 a total of 52,465 shares of company stock valued at $20,382,936 in the last three months. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

MDB has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $430.00 price target on shares of MongoDB in a research report on Tuesday, October 13th. Wells Fargo & Company raised their price objective on MongoDB from $375.00 to $475.00 and gave the company an "overweight" rating in a report on Tuesday, August 25th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $540.00 target price on shares of MongoDB in a research report on Friday, October 2nd. Stephens lowered their target price on MongoDB from $398.00 to $372.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 30th. Finally, Guggenheim reiterated a "buy" rating and set a $560.00 target price on shares of MongoDB in a report on Tuesday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $461.91.

MongoDB Profile

MongoDB, Inc develops database software and related services for businesses and developers. Its core product, MongoDB, is a document database designed to store and manage data in a flexible format for applications across a range of industries and use cases.

The company offers MongoDB Atlas, a managed cloud database service available across major cloud platforms, as well as software that customers can deploy in their own environments. MongoDB also provides tools and services for application development, database management, security, and data operations.

Founded in 2007 as 10gen, the company introduced its database software under the MongoDB name and later adopted that name as its corporate identity.

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