Sumitomo Life Insurance Co. Makes New $7.89 Million Investment in MongoDB, Inc. $MDB

Sumitomo Life Insurance Co. purchased a new position in MongoDB, Inc. (NASDAQ:MDB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,800 shares of the company’s stock, valued at approximately $7,890,000.

A number of other large investors have also bought and sold shares of MDB. Cornerstone Planning Group LLC grew its holdings in MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of MongoDB during the fourth quarter valued at about $28,000. Huntington National Bank grew its holdings in shares of MongoDB by 110.9% during the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of MongoDB during the fourth quarter valued at about $33,000. Finally, Root Financial Partners LLC grew its holdings in shares of MongoDB by 58.2% during the fourth 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. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director directly 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 transaction 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, Director Roelof Botha sold 44,050 shares of the business’s stock in a transaction dated 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 transaction, the director owned 150,550 shares in the company, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 116,616 shares of company stock valued at $41,956,174 in the last three months. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MDB. Cantor Fitzgerald lifted their price objective on shares of MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings cut shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Sanford C. Bernstein cut shares of MongoDB from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 3rd. UBS Group lifted their price objective on shares of MongoDB from $275.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Oppenheimer lifted their price objective on shares of MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.39.

MongoDB Stock Performance

MongoDB stock opened at $342.80 on Friday. MongoDB, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $444.72. The stock has a market cap of $27.57 billion, a PE ratio of -926.49, a price-to-earnings-growth ratio of 1,278.20 and a beta of 1.57. The firm’s 50-day simple moving average is $296.01 and its 200 day simple moving average is $334.86.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share 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 business had revenue of $687.62 million for the quarter, compared to analysts’ expectations of $664.53 million. During the same period in the previous year, the company earned $1.00 earnings per share. The firm’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. As a group, analysts predict that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

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.