2,809 Shares in MongoDB, Inc. $MDB Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new stake in MongoDB, Inc. (NASDAQ:MDB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,809 shares of the company’s stock, valued at approximately $688,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. ValueAct Holdings L.P. boosted its position in MongoDB by 206.8% during the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after acquiring an additional 1,427,700 shares during the period. State Street Corp raised its stake in shares of MongoDB by 2.3% during the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after purchasing an additional 40,219 shares in the last quarter. Amundi raised its stake in shares of MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after purchasing an additional 563,995 shares in the last quarter. Geode Capital Management LLC lifted its holdings in MongoDB by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after purchasing an additional 9,693 shares during the period. Finally, Jericho Capital Asset Management L.P. lifted its holdings in MongoDB by 162.1% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after purchasing an additional 852,540 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $361.32 on Wednesday. The stock has a market capitalization of $29.06 billion, a price-to-earnings ratio of -976.54, a PEG ratio of 1,290.82 and a beta of 1.55. MongoDB, Inc. has a 1-year low of $198.47 and a 1-year high of $444.72. The company has a 50 day moving average price of $325.22 and a 200 day moving average price of $328.60.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on MDB. Monness Crespi & Hardt raised their target price on shares of MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Barclays increased their price objective on shares of MongoDB from $370.00 to $387.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $395.00 price objective on shares of MongoDB in a research note on Tuesday, May 19th. Needham & Company LLC reissued an “overweight” rating on shares of MongoDB in a report on Friday, May 29th. Finally, Bank of America upped their target price on MongoDB from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $396.39.

Insider Activity at MongoDB

In related news, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the transaction, the director owned 161,762 shares of the company’s stock, valued at approximately $61,980,727.92. This trade represents a 19.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael J. Berry sold 5,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the sale, the chief financial officer owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% decrease in their position. 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 139,746 shares of company stock valued at $50,247,978 over the last ninety days. Company insiders own 2.60% of the company’s stock.

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.