MongoDB, Inc. $MDB Position Raised by Lead Edge Capital Management LLC

Lead Edge Capital Management LLC grew its stake in MongoDB, Inc. (NASDAQ:MDB) by 33.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 170,425 shares of the company’s stock after purchasing an additional 42,370 shares during the period. MongoDB comprises approximately 10.2% of Lead Edge Capital Management LLC’s holdings, making the stock its 4th largest position. Lead Edge Capital Management LLC’s holdings in MongoDB were worth $41,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. ValueAct Holdings L.P. increased its position in shares of MongoDB by 206.8% during 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 last quarter. State Street Corp lifted its position in MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after buying an additional 40,219 shares during the last quarter. Amundi lifted its position in MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after buying an additional 563,995 shares during the last quarter. Geode Capital Management LLC boosted its stake in MongoDB by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after buying an additional 9,693 shares during the period. Finally, Norges Bank purchased a new position in MongoDB during the fourth quarter worth $574,821,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Trading Down 0.3%

NASDAQ:MDB opened at $298.22 on Friday. The company has a market cap of $23.99 billion, a price-to-earnings ratio of -806.00, a price-to-earnings-growth ratio of 1,222.21 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 stock has a fifty day simple moving average of $336.75 and a 200-day simple moving average of $320.24.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The firm had revenue of $687.62 million for the quarter, compared to analysts’ expectations of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the business posted $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. As a group, equities research analysts predict that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent analyst reports. Barclays increased their target price on shares of MongoDB from $370.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Truist Financial lifted their price target on shares of MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Guggenheim reiterated a “buy” rating and set a $475.00 price target on shares of MongoDB in a report on Friday, May 29th. KGI Securities began coverage on shares of MongoDB in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $470.00 price objective on the stock. Finally, Stifel Nicolaus set a $435.00 price objective on shares of MongoDB in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $405.35.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 1,130 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $334.25, for a total transaction of $377,702.50. Following the transaction, the director directly owned 982,953 shares of the company’s stock, valued at approximately $328,552,040.25. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the sale, the director directly owned 161,762 shares of the company’s stock, valued at $61,980,727.92. This represents a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 127,746 shares of company stock worth $47,343,538 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

MongoDB 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.