Swedbank AB Has $142.13 Million Stock Position in MongoDB, Inc. $MDB

Key Points

• Swedbank AB cut its MongoDB stake by 20.4% in the first quarter, selling 149,038 shares and leaving it with 580,686 shares valued at about $142.1 million.
• MongoDB’s latest quarterly results beat expectations, with EPS of $1.32 versus the $1.19 estimate and revenue up 25.2% year over year to $687.6 million.
• Despite recent insider sales, Wall Street remains constructive on the stock: analysts have a Moderate Buy consensus and an average price target of $396.39.

Swedbank AB lowered its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 20.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 580,686 shares of the company's stock after selling 149,038 shares during the period. Swedbank AB owned about 0.72% of MongoDB worth $142,135,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Central Pacific Bank Trust Division acquired a new stake in MongoDB in the fourth quarter valued at $28,000. Cornerstone Planning Group LLC lifted its holdings in MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after buying an additional 61 shares during the period. International Assets Investment Management LLC acquired a new position in MongoDB during the 4th quarter worth about $33,000. Root Financial Partners LLC grew its position in shares of 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 buying an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in shares of MongoDB in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citizens Jmp reissued a "market outperform" rating and issued a $366.00 price target on shares of MongoDB in a research note on Friday, May 29th. Needham & Company LLC reaffirmed an "overweight" rating on shares of MongoDB in a research note on Friday, May 29th. Zacks Research upgraded MongoDB from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Oppenheimer increased their target price on shares of MongoDB from $375.00 to $410.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $395.00 price target on shares of MongoDB in a report on Tuesday, May 19th. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $396.39.

MongoDB Price Performance

NASDAQ MDB opened at $361.32 on Wednesday. The stock has a market capitalization of $29.06 billion, a P/E ratio of -976.54, a P/E/G ratio of 1,290.82 and a beta of 1.55. The business has a 50 day simple moving average of $325.22 and a 200 day simple moving average of $328.60. MongoDB, Inc. has a one year low of $198.47 and a one year 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 the consensus estimate of $1.19 by $0.13. The firm had revenue of $687.62 million for 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 was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. Equities analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction on Tuesday, June 2nd. The shares were 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 of the company's stock, valued at approximately $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dev Ittycheria sold 40,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the transaction, the director owned 161,762 shares in the company, valued at $61,980,727.92. This represents a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 139,746 shares of company stock worth $50,247,978 over the last quarter. 2.60% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.