Sumitomo Mitsui Trust Group Inc. Sells 6,151 Shares of MongoDB, Inc. $MDB

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 157,606 shares of the company’s stock after selling 6,151 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of MongoDB worth $54,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in MongoDB by 0.3% during the first quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock worth $135,922,000 after buying an additional 1,852 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in MongoDB by 55.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 549,970 shares of the company’s stock valued at $134,616,000 after buying an additional 195,250 shares in the last quarter. Amundi increased its holdings in MongoDB by 17.8% in the first quarter. Amundi now owns 376,447 shares of the company’s stock valued at $92,143,000 after buying an additional 56,888 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MongoDB by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 373,992 shares of the company’s stock valued at $91,514,000 after acquiring an additional 11,606 shares during the period. Finally, Sei Investments Co. lifted its position in shares of MongoDB by 125.3% during the 1st quarter. Sei Investments Co. now owns 367,663 shares of the company’s stock valued at $89,979,000 after acquiring an additional 204,446 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Archana Agrawal sold 1,000 shares of MongoDB stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $400.00, for a total transaction of $400,000.00. Following the completion of the sale, the director directly owned 4,328 shares in the company, valued at $1,731,200. The trade was a 18.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Hazard, Jr. sold 595 shares of MongoDB stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $363.85, for a total transaction of $216,490.75. Following the completion of the sale, the director directly owned 45,237 shares of the company’s stock, valued at $16,459,482.45. The trade was a 1.30% 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. Insiders sold 32,595 shares of company stock valued at $13,465,211 over the last quarter. 2.60% of the stock is currently owned by company insiders.

MongoDB Price Performance

Shares of MDB opened at $335.37 on Wednesday. MongoDB, Inc. has a 1-year low of $215.68 and a 1-year high of $473.10. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 1,436.65, a price-to-earnings-growth ratio of 30.08 and a beta of 1.74. The firm has a 50 day simple moving average of $379.47 and a 200-day simple moving average of $338.40.

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 firm had revenue of $771.77 million for the quarter, compared to analyst estimates of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. MongoDB’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. On average, equities analysts expect that MongoDB, Inc. will post 0.50 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on MDB. Weiss Ratings lowered MongoDB from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, October 27th. Scotiabank reaffirmed a “sector outperform” rating and issued a $450.00 price objective (up from $440.00) on shares of MongoDB in a research note on Thursday, October 8th. Guggenheim reaffirmed a “buy” rating and set a $560.00 price objective on shares of MongoDB in a report on Tuesday, September 29th. Zacks Research upgraded MongoDB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Finally, Monness Crespi & Hardt boosted their target price on MongoDB from $460.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $461.91.

About MongoDB

MongoDB, Inc develops and provides a modern database platform designed to help organizations build, deploy and scale applications. Its flagship technology is MongoDB, a document-oriented database that stores data in flexible, JSON-like documents and is intended to support a broad range of application development and data-management needs.

The company offers MongoDB Atlas, a fully managed cloud database service available across major cloud providers, as well as MongoDB Enterprise Advanced for organizations that run databases in their own data centers or in hybrid environments.