MongoDB, Inc. $MDB Stock Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management reduced its MongoDB position by 1.7% in the third quarter, selling 8,881 shares and retaining 502,346 shares valued at approximately $175.1 million. Institutional investors collectively own 89.29% of MongoDB.
• Several major institutions increased their holdings, including Capital World Investors, Polar Capital Holdings, Arrowstreet Capital and Sei Investments. MongoDB insiders sold 17,000 shares worth about $7.8 million over the past 90 days.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $462.59. MongoDB recently exceeded quarterly earnings and revenue expectations, reporting $1.90 in EPS and $771.77 million in revenue.

Congress Asset Management Co. decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 502,346 shares of the company's stock after selling 8,881 shares during the period. MongoDB accounts for about 1.1% of Congress Asset Management Co.'s investment portfolio, making the stock its 15th largest position. Congress Asset Management Co. owned about 0.62% of MongoDB worth $175,123,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Capital World Investors increased its stake in shares of MongoDB by 129.1% in the fourth quarter. Capital World Investors now owns 980,182 shares of the company's stock worth $411,373,000 after purchasing an additional 552,434 shares in the last quarter. Employees Provident Fund Board purchased a new position in shares of MongoDB during the 4th quarter valued at $203,365,000. Polar Capital Holdings Plc boosted its holdings in MongoDB by 730.6% in the 4th quarter. Polar Capital Holdings Plc now owns 431,207 shares of the company's stock worth $180,973,000 after buying an additional 379,289 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in MongoDB by 21.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,336,397 shares of the company's stock worth $560,872,000 after buying an additional 239,338 shares in the last quarter. Finally, Sei Investments Co. increased its stake in MongoDB by 125.3% in the 1st quarter. Sei Investments Co. now owns 367,663 shares of the company's stock worth $89,979,000 after buying an additional 204,446 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Transactions at MongoDB

In related news, Director Hope Cochran sold 1,000 shares of MongoDB stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $375.92, for a total value of $375,920.00. Following the completion of the transaction, the director owned 28,326 shares in the company, valued at approximately $10,648,309.92. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $470.59, for a total value of $4,705,900.00. Following the sale, the director owned 962,953 shares in the company, valued at approximately $453,156,052.27. This trade represents a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 17,000 shares of company stock valued at $7,792,320. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Robert W. Baird upped their price objective on MongoDB from $335.00 to $400.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 25th. Citigroup reissued a "market outperform" rating on shares of MongoDB in a report on Monday, September 28th. BMO Capital Markets dropped their price target on MongoDB from $450.00 to $420.00 and set an "outperform" rating for the company in a research note on Wednesday, September 30th. Canaccord Genuity Group increased their price objective on shares of MongoDB from $400.00 to $480.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd. Finally, Sanford C. Bernstein boosted their target price on shares of MongoDB from $449.00 to $484.00 and gave the stock an "outperform" rating in a report on Wednesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $462.59.

MongoDB Price Performance

Shares of NASDAQ MDB traded up $1.48 during midday trading on Tuesday, reaching $360.71. 1,605,424 shares of the stock traded hands, compared to its average volume of 2,033,614. The stock has a market capitalization of $29.06 billion, a PE ratio of 508.04, a P/E/G ratio of 38.46 and a beta of 1.74. MongoDB, Inc. has a one year low of $215.68 and a one year high of $473.10. The company's 50 day moving average is $392.08 and its 200 day moving average is $334.26.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 EPS 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 business had revenue of $771.77 million during the quarter, compared to analyst estimates of $735.01 million. During the same quarter last year, the business earned $1.00 earnings per share. MongoDB'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 analysts forecast that MongoDB, Inc. will post 0.47 EPS for the current year.

MongoDB Company Profile

MongoDB, Inc develops and provides a general-purpose, document-oriented database platform. Its technology is designed to help organizations store, manage and analyze structured and unstructured data for applications such as artificial intelligence, analytics, mobile services, e-commerce and enterprise software.

The company's principal offering is MongoDB Atlas, a fully managed cloud database service available across major cloud infrastructure providers. MongoDB also offers Enterprise Advanced, which provides commercial database software, security, operational controls and support for organizations running databases in their own environments or across hybrid and multicloud infrastructures.

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