Whittier Trust Co. of Nevada Inc. Purchases 17,854 Shares of MongoDB, Inc. $MDB

Key Points

• Whittier Trust Co. of Nevada boosted its MongoDB stake by 8,927% in the first quarter, buying 17,854 additional shares and bringing its total holding to 18,054 shares worth about $4.6 million.
• MongoDB reported better-than-expected quarterly results, with EPS of $1.32 versus the $1.19 estimate and revenue of $687.6 million, up 25.2% year over year. The company also issued forward guidance for FY 2027 and Q2 2027.
• Analyst sentiment remains constructive, with several firms raising price targets and MongoDB holding a “Moderate Buy” consensus rating. Meanwhile, insiders recently sold shares, including directors Dev Ittycheria and Roelof Botha.

Whittier Trust Co. of Nevada Inc. increased its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 8,927.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,054 shares of the company's stock after purchasing an additional 17,854 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in MongoDB were worth $4,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ValueAct Holdings L.P. raised its holdings in MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company's stock worth $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. Norges Bank bought a new stake in MongoDB in the fourth quarter worth $574,821,000. AQR Capital Management LLC raised its position in shares of MongoDB by 2,567.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock worth $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. grew its position in MongoDB by 162.1% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company's stock valued at $427,871,000 after purchasing an additional 852,540 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in MongoDB by 162.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company's stock valued at $340,505,000 after purchasing an additional 678,746 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Performance

Shares of MDB traded up $4.45 during mid-day trading on Tuesday, hitting $362.36. 307,522 shares of the company traded hands, compared to its average volume of 1,978,850. The stock has a 50-day moving average price of $323.07 and a two-hundred day moving average price of $328.96. MongoDB, Inc. has a 1 year low of $198.47 and a 1 year high of $444.72. The stock has a market cap of $29.14 billion, a price-to-earnings ratio of -979.34, a P/E/G ratio of 1,279.90 and a beta of 1.55.

MongoDB (NASDAQ:MDB - Get Free Report) last issued 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. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company had revenue of $687.62 million for the quarter, compared to analysts' expectations of $664.53 million. During the same quarter last year, the company posted $1.00 earnings per share. The firm's quarterly revenue 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, analysts forecast that MongoDB, Inc. will post 0.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MDB shares. Cantor Fitzgerald lifted their target price on shares of MongoDB from $378.00 to $416.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Rosenblatt Securities reissued a "buy" rating and set a $385.00 price target on shares of MongoDB in a research report on Tuesday, May 26th. Tigress Financial boosted their price objective on shares of MongoDB from $430.00 to $515.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Robert W. Baird upped their price objective on MongoDB from $260.00 to $335.00 and gave the company a "neutral" rating in a research report on Wednesday, May 20th. Finally, Zacks Research upgraded MongoDB from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MongoDB has a consensus rating of "Moderate Buy" and a consensus price target of $396.39.

Insider Transactions at MongoDB

In other MongoDB news, Director Dev Ittycheria sold 40,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the transaction, the director owned 161,762 shares of the company's stock, valued at approximately $61,980,727.92. This represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roelof Botha sold 44,050 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 150,550 shares in the company, valued at $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 139,746 shares of company stock valued at $50,247,978. Corporate insiders own 2.60% of the company's stock.

MongoDB 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.

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