Okabena Investment Services Inc. Invests $1.84 Million in MongoDB, Inc. $MDB

Key Points

• Okabena Investment Services disclosed a new fourth-quarter position in MongoDB, buying 4,374 shares worth about $1.84 million.
• MongoDB reported strong quarterly results, with EPS of $1.32 topping estimates and revenue of $687.6 million, up 25.2% year over year.
• Institutional ownership remains high at 89.29%, while analysts are largely positive with a consensus rating of Moderate Buy and an average target price of $396.39.

Okabena Investment Services Inc. acquired a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,374 shares of the company's stock, valued at approximately $1,836,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new stake in MongoDB during the fourth quarter worth about $28,000. Cornerstone Planning Group LLC grew its holdings in 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 during the period. International Assets Investment Management LLC acquired a new stake in MongoDB during the fourth quarter worth about $33,000. Root Financial Partners LLC grew its holdings in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company's stock worth $37,000 after acquiring an additional 32 shares during the period. Finally, Global Trust Asset Management LLC acquired a new stake in MongoDB during the fourth quarter worth about $38,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Trading Up 3.3%

Shares of MDB opened at $354.18 on Tuesday. MongoDB, Inc. has a 12 month low of $196.00 and a 12 month high of $444.72. The stock's 50 day moving average is $298.04 and its two-hundred day moving average is $335.05. The firm has a market cap of $28.49 billion, a P/E ratio of -957.24, a PEG ratio of 1,236.33 and a beta of 1.57.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. During the same period last year, the company earned $1.00 earnings per share. MongoDB's quarterly revenue was up 25.2% compared to the same quarter last year. 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 forecast that MongoDB, Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

MDB has been the topic of several analyst reports. Truist Financial dropped their target price on MongoDB from $500.00 to $375.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Morgan Stanley raised their target price on MongoDB from $335.00 to $380.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. Scotiabank reissued an "outperform" rating on shares of MongoDB in a report on Friday, May 29th. Needham & Company LLC reissued an "overweight" rating on shares of MongoDB in a report on Friday, May 29th. Finally, Weiss Ratings lowered MongoDB from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, April 29th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $396.39.

Insider Transactions at MongoDB

In other news, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the director directly owned 27,010 shares of the company's stock, valued at $9,453,500. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total value of $17,534,983.50. Following the completion of the sale, the director directly owned 150,550 shares in the company, valued at $59,929,438.50. This represents a 22.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 116,616 shares of company stock valued at $41,956,174. Insiders own 2.60% of the company's stock.

About MongoDB

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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