Plato Investment Management Ltd Invests $1.01 Million in MongoDB, Inc. $MDB

Key Points

• Plato Investment Management initiated a MongoDB position by purchasing 3,035 shares worth approximately $1.01 million in the second quarter. Institutional investors collectively own 89.29% of MongoDB’s stock.
• MongoDB reported quarterly revenue of $687.62 million, up 25.2% year over year, and adjusted EPS of $1.32, exceeding analyst expectations of $1.19.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $418.26, while insiders sold roughly $49.31 million in shares over the past 90 days.

Plato Investment Management Ltd purchased a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,035 shares of the company's stock, valued at approximately $1,014,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC boosted its position in MongoDB by 30.0% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 1,204 shares of the company's stock valued at $404,000 after buying an additional 278 shares during the period. Herbst Group LLC purchased a new position in shares of MongoDB during the second quarter worth approximately $202,000. Everhart Financial Group Inc. bought a new stake in shares of MongoDB during the second quarter valued at approximately $381,000. PensionDanmark Pensionsforsikringsaktieselskab raised its stake in shares of MongoDB by 48.7% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 20,810 shares of the company's stock valued at $6,990,000 after acquiring an additional 6,819 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of MongoDB by 19.9% in the second quarter. Assenagon Asset Management S.A. now owns 128,080 shares of the company's stock valued at $43,022,000 after purchasing an additional 21,273 shares during the period. Institutional investors own 89.29% of the company's stock.

MongoDB Stock Down 0.9%

Shares of NASDAQ:MDB opened at $434.62 on Wednesday. The firm has a 50 day moving average of $352.08 and a 200 day moving average of $317.28. The company has a market capitalization of $34.96 billion, a price-to-earnings ratio of -1,174.65, a price-to-earnings-growth ratio of 3,270.10 and a beta of 1.55. MongoDB, Inc. has a 52 week low of $206.92 and a 52 week high of $473.10.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (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 business had revenue of $687.62 million for the quarter, compared to analysts' expectations of $664.53 million. During the same quarter last year, the firm earned $1.00 EPS. The business's revenue for the quarter 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. On average, sell-side analysts expect that MongoDB, Inc. will post 0.01 EPS for the current year.

Analysts Set New Price Targets

MDB has been the topic of several research analyst reports. UBS Group increased their price objective on MongoDB from $275.00 to $350.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Canaccord Genuity Group lifted their target price on MongoDB from $375.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Bank of America upped their target price on MongoDB from $390.00 to $450.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Wall Street Zen downgraded MongoDB from a "buy" rating to a "hold" rating in a research report on Sunday, July 26th. Finally, Mizuho raised their price target on MongoDB from $325.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. One investment 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 given a Sell rating to the company's stock. According to data from MarketBeat, MongoDB has an average rating of "Moderate Buy" and a consensus price target of $418.26.

Insider Activity

In other MongoDB news, Director Dev Ittycheria sold 40,000 shares of the business's 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 in the company, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the director directly owned 29,326 shares of the company's stock, valued at approximately $10,264,100. The trade was a 3.30% 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. Insiders sold a total of 125,746 shares of company stock worth $49,310,038 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

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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