Bank of Nova Scotia Increases Stock Holdings in MongoDB, Inc. $MDB

Bank of Nova Scotia increased its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 36.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,796 shares of the company’s stock after acquiring an additional 2,062 shares during the quarter. Bank of Nova Scotia’s holdings in MongoDB were worth $1,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cornerstone Planning Group LLC lifted 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 acquiring an additional 61 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of MongoDB in the 4th quarter worth $33,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of MongoDB in the 1st quarter worth $34,000. Root Financial Partners LLC raised its holdings in shares of MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in shares of MongoDB in the fourth quarter valued at about $38,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Price Performance

NASDAQ MDB opened at $321.31 on Thursday. The business’s fifty day moving average is $335.70 and its 200-day moving average is $317.08. The stock has a market capitalization of $25.84 billion, a price-to-earnings ratio of -868.39, a PEG ratio of 1,273.03 and a beta of 1.55. MongoDB, Inc. has a one year low of $198.47 and a one year high of $444.72.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $664.53 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter 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. Research analysts expect that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Dev Ittycheria sold 40,000 shares of the 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 completion of the transaction, the director directly owned 161,762 shares of the company’s stock, valued at $61,980,727.92. This represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total transaction of $538,782.30. Following the transaction, the director directly owned 25,444 shares of the company’s stock, valued at $8,754,008.20. This represents a 5.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 127,746 shares of company stock valued at $47,343,538. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

MDB has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Wedbush upped their price objective on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Stifel Nicolaus set a $435.00 price objective on shares of MongoDB in a research note on Friday, May 29th. Mizuho lifted their target price on shares of MongoDB from $325.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, Guggenheim restated a “buy” rating and issued a $475.00 target price on shares of MongoDB in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $405.35.

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.