Principal Financial Group Inc. Sells 7,621 Shares of MongoDB, Inc. $MDB

Principal Financial Group Inc. lowered its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 77.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,279 shares of the company’s stock after selling 7,621 shares during the quarter. Principal Financial Group Inc.’s holdings in MongoDB were worth $558,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MDB. ValueAct Holdings L.P. grew its position in shares of MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after purchasing an additional 1,427,700 shares during the period. Norges Bank acquired a new stake in MongoDB during the 4th quarter worth approximately $574,821,000. AQR Capital Management LLC raised its holdings in MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after buying an additional 1,069,969 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in MongoDB by 611.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock valued at $300,120,000 after buying an additional 614,559 shares in the last quarter. Finally, Amundi lifted its stake in MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after buying an additional 563,995 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Insiders Place Their Bets

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total value of $538,782.30. Following the sale, the director directly owned 25,444 shares in the company, valued at approximately $8,754,008.20. The trade was a 5.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 sale, the director directly owned 150,550 shares in the company, valued at $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 127,746 shares of company stock valued at $47,343,538 in the last quarter. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MDB shares. Robert W. Baird increased their price objective on shares of MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Cantor Fitzgerald boosted their price objective on shares of MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. DA Davidson reaffirmed a “buy” rating and issued a $375.00 price objective on shares of MongoDB in a research report on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating on shares of MongoDB in a research note on Friday, May 29th. Finally, Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.35.

MongoDB Stock Up 3.6%

Shares of MDB opened at $337.48 on Friday. The stock has a market capitalization of $27.14 billion, a P/E ratio of -912.11, a P/E/G ratio of 1,383.11 and a beta of 1.55. MongoDB, Inc. has a twelve month low of $198.47 and a twelve month high of $444.72. The company has a 50 day moving average of $336.10 and a 200-day moving average of $316.65.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The company had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. 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, sell-side analysts anticipate that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

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.