Norges Bank disclosed a new investment in MongoDB on June 1. The Norwegian central bank acquired 1.37 million shares. The stake is worth approximately $574.8 million. This purchase represents a 1.68% ownership stake in the company.
The disclosure follows MongoDB’s first-quarter fiscal 2027 earnings report from May 28. Quarterly revenue reached $687.6 million, exceeding analyst expectations. Earnings per share totaled $1.32 for the period.
Management raised full-year guidance citing momentum for its Atlas cloud database. The company also reported increased demand for its AI-related services.