Sumitomo Life Insurance Co. Purchases Shares of 18,800 MongoDB, Inc. $MDB

Key Points

• Sumitomo Life Insurance opened a new position in MongoDB during the fourth quarter, buying 18,800 shares valued at about $7.89 million.
• MongoDB reported better-than-expected quarterly results, with EPS of $1.32 versus $1.19 expected and revenue of $687.6 million, up 25.2% year over year.
• Despite the earnings beat, the stock was down 3.3% and some analysts became more cautious, including one downgrade to hold, although the overall consensus remains a Moderate Buy.

Sumitomo Life Insurance Co. purchased a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,800 shares of the company's stock, valued at approximately $7,890,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Columbia Bank acquired a new position in MongoDB in the 4th quarter valued at approximately $413,000. Concorde Asset Management LLC bought a new position in shares of MongoDB during the fourth quarter worth about $222,000. Advisors Asset Management Inc. raised its position in shares of MongoDB by 74.3% during the fourth quarter. Advisors Asset Management Inc. now owns 4,918 shares of the company's stock worth $2,064,000 after acquiring an additional 2,097 shares during the last quarter. CI Investments Inc. boosted its holdings in MongoDB by 70.1% in the fourth quarter. CI Investments Inc. now owns 117,889 shares of the company's stock valued at $49,477,000 after acquiring an additional 48,563 shares during the last quarter. Finally, Hollencrest Capital Management boosted its holdings in MongoDB by 129.2% in the fourth quarter. Hollencrest Capital Management now owns 275 shares of the company's stock valued at $115,000 after acquiring an additional 155 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Down 3.3%

Shares of NASDAQ MDB opened at $342.80 on Friday. MongoDB, Inc. has a twelve month low of $196.00 and a twelve month high of $444.72. The firm has a fifty day simple moving average of $296.01 and a 200 day simple moving average of $334.86. The company has a market capitalization of $27.57 billion, a PE ratio of -926.49, a P/E/G ratio of 1,278.20 and a beta of 1.57.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million during the quarter, compared to analysts' expectations of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business's quarterly revenue was up 25.2% on a year-over-year basis. During the same period last year, the company posted $1.00 earnings per share. 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, equities analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on MDB. Wall Street Zen cut MongoDB from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. The Goldman Sachs Group lowered their target price on shares of MongoDB from $475.00 to $320.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Needham & Company LLC reissued an "overweight" rating on shares of MongoDB in a research note on Friday, May 29th. Royal Bank Of Canada reissued an "outperform" rating and set a $395.00 target price on shares of MongoDB in a research note on Tuesday, May 19th. Finally, Citigroup reissued a "buy" rating on shares of MongoDB in a research note on Monday. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $396.39.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 6,000 shares of the firm's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $314.98, for a total value of $1,889,880.00. Following the completion of the sale, the director directly owned 470,896 shares in the company, valued at approximately $148,322,822.08. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the completion of the sale, the director owned 150,550 shares of the company's stock, valued at $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 116,616 shares of company stock valued at $41,956,174. Company 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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