Sumitomo Mitsui Trust Group Inc. Trims Stake in MongoDB, Inc. $MDB

Sumitomo Mitsui Trust Group Inc. reduced its position in MongoDB, Inc. (NASDAQ:MDB) by 6.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 197,193 shares of the company’s stock after selling 14,341 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of MongoDB worth $41,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Carnegie Investment Counsel lifted its holdings in shares of MongoDB by 3.6% in the 2nd quarter. Carnegie Investment Counsel now owns 1,803 shares of the company’s stock valued at $379,000 after purchasing an additional 62 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of MongoDB by 2.6% in the 1st quarter. Wedbush Securities Inc. now owns 3,022 shares of the company’s stock valued at $530,000 after purchasing an additional 77 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of MongoDB by 0.4% in the 1st quarter. Arizona State Retirement System now owns 21,504 shares of the company’s stock valued at $3,772,000 after purchasing an additional 83 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of MongoDB by 6.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,327 shares of the company’s stock valued at $279,000 after purchasing an additional 85 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of MongoDB by 0.7% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,240 shares of the company’s stock valued at $2,498,000 after purchasing an additional 95 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on MDB shares. Bank of America boosted their target price on MongoDB from $345.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $290.00 price objective on shares of MongoDB in a research note on Friday, August 22nd. Stifel Nicolaus upped their price objective on MongoDB from $325.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Citigroup reaffirmed an “outperform” rating on shares of MongoDB in a research note on Friday, September 19th. Finally, BMO Capital Markets upped their price objective on MongoDB from $315.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $342.69.

MongoDB Trading Up 2.0%

NASDAQ MDB opened at $340.17 on Tuesday. The business’s 50 day moving average is $309.06 and its two-hundred day moving average is $237.73. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The stock has a market capitalization of $27.68 billion, a price-to-earnings ratio of -347.11 and a beta of 1.50.

MongoDB (NASDAQ:MDB) last released its earnings results on Tuesday, August 26th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($1.04). MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The business had revenue of $591.40 million for the quarter, compared to analyst estimates of $553.23 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. MongoDB has set its FY 2026 guidance at 3.640-3.730 EPS. Q3 2026 guidance at 0.760-0.790 EPS. Equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Peter Thomas Killalea sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $321.87, for a total value of $6,437,400.00. Following the sale, the director owned 32,293 shares in the company, valued at $10,394,147.91. This represents a 38.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $320.15, for a total value of $8,003,750.00. Following the completion of the sale, the director owned 1,079,316 shares in the company, valued at approximately $345,543,017.40. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,493 shares of company stock worth $32,450,023 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

MongoDB Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.