NewEdge Wealth LLC Acquires 6,422 Shares of MongoDB, Inc. $MDB

Key Points

• NewEdge Wealth increased its MongoDB stake by 924% in the first quarter, purchasing 6,422 additional shares and ending with 7,117 shares valued at approximately $1.74 million. Institutional investors collectively own 89.29% of MDB.
• MongoDB exceeded quarterly expectations, reporting $1.32 EPS versus the $1.19 consensus and revenue of $687.62 million, up 25.2% year over year. Despite the stronger results, the company posted a negative net margin of 1.12%.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $405.35 price target, while insiders sold 127,746 shares worth roughly $47.3 million over the past quarter.

NewEdge Wealth LLC lifted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 924.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,117 shares of the company's stock after buying an additional 6,422 shares during the quarter. NewEdge Wealth LLC's holdings in MongoDB were worth $1,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MDB. Cornerstone Planning Group LLC lifted its position in shares of MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after acquiring an additional 61 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of MongoDB in the fourth quarter valued at $33,000. Root Financial Partners LLC grew its position in shares of 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 purchasing an additional 32 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of MongoDB during the 4th quarter valued at $38,000. Finally, Murphy & Mullick Capital Management Corp lifted its holdings in MongoDB by 500.0% during the 4th quarter. Murphy & Mullick Capital Management Corp now owns 120 shares of the company's stock worth $50,000 after purchasing an additional 100 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $298.22 on Monday. The firm has a market capitalization of $23.99 billion, a P/E ratio of -806.00, a P/E/G ratio of 1,222.21 and a beta of 1.55. The stock's 50-day simple moving average is $336.75 and its two-hundred day simple moving average is $319.53. 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 issued its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.13. The firm had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company's revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. As a group, research analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dev Ittycheria sold 40,000 shares of the stock in a transaction on 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 transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roelof Botha sold 44,050 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the sale, the director owned 150,550 shares in the company, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 127,746 shares of company stock worth $47,343,538. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MDB has been the subject of several analyst reports. Barclays raised their target price on MongoDB from $370.00 to $387.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. Royal Bank Of Canada reissued an "outperform" rating and issued a $395.00 price target on shares of MongoDB in a report on Tuesday, May 19th. Bank of America raised their price objective on shares of MongoDB from $390.00 to $450.00 and gave the company a "buy" rating in a research report on Monday, June 8th. Rosenblatt Securities restated a "buy" rating and issued a $385.00 price objective on shares of MongoDB in a research report on Tuesday, May 26th. Finally, Needham & Company LLC boosted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, MongoDB has a consensus rating of "Moderate Buy" and a consensus price target 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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