MongoDB, Inc. $MDB Stock: Welch & Forbes LLC Boosts Holdings

Welch & Forbes LLC increased its position in MongoDB, Inc. (NASDAQ:MDB) by 133.4% in the third quarter, Holdings Channel reports. The firm owned 57,131 shares of the company’s stock after purchasing an additional 32,654 shares during the quarter. Welch & Forbes LLC’s holdings in MongoDB were worth $19,916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc grew its position in shares of MongoDB by 8.6% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 95,220 shares of the company’s stock worth $33,195,000 after acquiring an additional 7,568 shares in the last quarter. Consolidated Investment Group LLC increased its holdings in shares of MongoDB by 8.8% in the 3rd quarter. Consolidated Investment Group LLC now owns 14,900 shares of the company’s stock valued at $5,194,000 after acquiring an additional 1,200 shares during the last quarter. AlphaCore Capital LLC increased its holdings in shares of MongoDB by 52.8% in the 3rd quarter. AlphaCore Capital LLC now owns 1,681 shares of the company’s stock valued at $586,000 after acquiring an additional 581 shares during the last quarter. Palacios Wealth Management LLC raised its position in shares of MongoDB by 11.7% during the 3rd quarter. Palacios Wealth Management LLC now owns 2,784 shares of the company’s stock valued at $971,000 after acquiring an additional 291 shares in the last quarter. Finally, Clear Wave Wealth Management LLC bought a new position in MongoDB during the third quarter worth $333,000. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MDB. The Goldman Sachs Group boosted their target price on shares of MongoDB from $453.00 to $520.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Truist Financial raised their price target on shares of MongoDB from $400.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. DA Davidson reduced their price target on shares of MongoDB from $465.00 to $415.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. Oppenheimer lifted their price target on shares of MongoDB from $410.00 to $475.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, Robert W. Baird boosted their price objective on shares of MongoDB from $335.00 to $400.00 and gave the company a “neutral” rating in a research report on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $461.91.

Insider Activity

In other MongoDB news, Director Archana Agrawal sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $400.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director owned 4,328 shares in the company, valued at approximately $1,731,200. The trade was a 18.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $375.92, for a total transaction of $375,920.00. Following the completion of the transaction, the director owned 28,326 shares of the company’s stock, valued at $10,648,309.92. This represents a 3.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,465 shares of company stock worth $20,382,936 over the last ninety days. Insiders own 2.60% of the company’s stock.

MongoDB Price Performance

Shares of MDB opened at $327.37 on Tuesday. MongoDB, Inc. has a 12 month low of $215.68 and a 12 month high of $473.10. The stock has a fifty day moving average price of $370.97 and a 200 day moving average price of $336.99. The company has a market cap of $26.37 billion, a P/E ratio of 461.08, a PEG ratio of 29.90 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last posted its earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.28. The company had revenue of $771.77 million for the quarter, compared to analysts’ expectations of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business posted $1.00 earnings per share. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. As a group, research analysts anticipate that MongoDB, Inc. will post 0.50 earnings per share for the current year.

MongoDB Profile

MongoDB, Inc develops database software and related services for businesses and developers. Its core product, MongoDB, is a document database designed to store and manage data in a flexible format for applications across a range of industries and use cases.

The company offers MongoDB Atlas, a managed cloud database service available across major cloud platforms, as well as software that customers can deploy in their own environments. MongoDB also provides tools and services for application development, database management, security, and data operations.

Founded in 2007 as 10gen, the company introduced its database software under the MongoDB name and later adopted that name as its corporate identity.