Private Advisor Group LLC Sells 7,118 Shares of MongoDB, Inc. $MDB

Private Advisor Group LLC reduced its position in MongoDB, Inc. (NASDAQ:MDB) by 65.9% in the first quarter, Holdings Channel.com reports. The fund owned 3,684 shares of the company’s stock after selling 7,118 shares during the period. Private Advisor Group LLC’s holdings in MongoDB were worth $902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cornerstone Planning Group LLC boosted its stake in MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of MongoDB in the 4th quarter worth $28,000. International Assets Investment Management LLC purchased a new position in shares of MongoDB in the fourth quarter worth $33,000. Root Financial Partners LLC raised its stake in shares of MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after purchasing an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new position in shares of MongoDB during the fourth quarter valued at $38,000. 89.29% of the stock is owned by institutional investors.

MongoDB Stock Up 2.0%

Shares of MDB opened at $344.67 on Wednesday. The business has a 50-day simple moving average of $334.20 and a two-hundred day simple moving average of $325.64. The stock has a market cap of $27.72 billion, a price-to-earnings ratio of -931.54, a PEG ratio of 1,218.91 and a beta of 1.55. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping 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 firm had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same quarter last year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. 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, equities analysts anticipate that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the director owned 29,326 shares of the company’s stock, valued at $10,264,100. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on 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 directly owned 161,762 shares in the company, valued at $61,980,727.92. This represents a 19.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 131,746 shares of company stock worth $48,352,858 in the last 90 days. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MDB. Scotiabank reaffirmed an “outperform” rating on shares of MongoDB in a research report on Friday, May 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $395.00 target price on shares of MongoDB in a research report on Tuesday, May 19th. Robert W. Baird upped their target price on shares of MongoDB from $260.00 to $335.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Wall Street Zen downgraded shares of MongoDB from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Finally, Truist Financial raised their price target on shares of MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $400.41.

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.