Principal Financial Group Inc. Has $558,000 Position in MongoDB, Inc. $MDB

Key Points

• Principal Financial Group cut its MongoDB stake by 77% in the first quarter, leaving it with 2,279 shares valued at approximately $558,000. Institutional investors and hedge funds collectively own 89.29% of MongoDB.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $405.35, despite some recent downgrades and sell ratings.
• MongoDB reported quarterly revenue of $687.62 million, up 25.2% year over year, and adjusted EPS of $1.32, beating analyst expectations. The stock opened at $337.48, while insiders sold roughly $47.3 million of shares over the past 90 days under pre-arranged trading plans.

Principal Financial Group Inc. lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 77.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,279 shares of the company's stock after selling 7,621 shares during the period. Principal Financial Group Inc.'s holdings in MongoDB were worth $558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its holdings in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock valued at $27,000 after buying an additional 61 shares during the last quarter. International Assets Investment Management LLC bought a new stake in MongoDB during the 4th quarter worth about $33,000. Root Financial Partners LLC increased its position in MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company's stock valued at $37,000 after acquiring an additional 32 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in MongoDB in the 4th quarter valued at about $38,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of MongoDB by 79.7% in the second quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $46,000 after acquiring an additional 98 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MDB shares. Robert W. Baird upped their target price on shares of MongoDB from $260.00 to $335.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 20th. Wall Street Zen lowered shares of MongoDB from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. Weiss Ratings restated a "sell (e+)" rating on shares of MongoDB in a research report on Friday, July 24th. Piper Sandler upped their price objective on MongoDB from $330.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $395.00 price objective on shares of MongoDB in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and an average price target of $405.35.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $297.99, for a total transaction of $2,979,900.00. Following the completion of the transaction, the director owned 993,316 shares in the company, valued at approximately $295,998,234.84. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Berry sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the sale, the chief financial officer directly owned 1,500 shares of the company's stock, valued at $534,945. The trade was a 76.92% decrease in their position. 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 have sold 127,746 shares of company stock worth $47,343,538 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

MongoDB Trading Up 3.6%

NASDAQ:MDB opened at $337.48 on Friday. MongoDB, Inc. has a 1-year low of $198.47 and a 1-year high of $444.72. The firm has a market capitalization of $27.14 billion, a price-to-earnings ratio of -912.11, a PEG ratio of 1,383.11 and a beta of 1.55. The business's 50-day moving average price is $336.10 and its two-hundred day moving average price is $316.65.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.13. The company had revenue of $687.62 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $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. Sell-side analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current year.

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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