Light Street Capital Management LLC Invests $16.80 Million in MongoDB, Inc. $MDB

Light Street Capital Management LLC bought a new stake in MongoDB, Inc. (NASDAQ:MDB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $16,795,000. MongoDB accounts for about 1.9% of Light Street Capital Management LLC’s portfolio, making the stock its 19th largest position. Light Street Capital Management LLC owned 0.06% of MongoDB as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MDB. Root Financial Partners LLC lifted its position in MongoDB by 58.2% during the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after acquiring an additional 32 shares during the period. Moody National Bank Trust Division increased its holdings in shares of MongoDB by 3.1% in the second quarter. Moody National Bank Trust Division now owns 1,123 shares of the company’s stock valued at $377,000 after purchasing an additional 34 shares during the period. HighPoint Advisor Group LLC increased its holdings in shares of MongoDB by 2.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock valued at $626,000 after purchasing an additional 36 shares during the period. Basecamp Wealth Advisors LLC raised its stake in shares of MongoDB by 14.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 287 shares of the company’s stock worth $70,000 after purchasing an additional 36 shares during the last quarter. Finally, Lido Advisors LLC raised its stake in shares of MongoDB by 3.4% in the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock worth $458,000 after purchasing an additional 36 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

MDB stock traded down $12.74 during trading on Tuesday, hitting $356.00. 2,487,500 shares of the company traded hands, compared to its average volume of 1,905,459. MongoDB, Inc. has a 1 year low of $215.68 and a 1 year high of $473.10. The company has a market cap of $28.63 billion, a PE ratio of 501.41, a P/E/G ratio of 38.75 and a beta of 1.58. The stock’s 50-day simple moving average is $374.88 and its 200 day simple moving average is $322.61.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.62 by $0.28. The business had revenue of $771.77 million for the quarter, compared to analyst estimates of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%.The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. Research analysts expect that MongoDB, Inc. will post 0.48 earnings per share for the current year.

Insider Activity at MongoDB

In related news, CFO Michael Berry sold 5,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the sale, the chief financial officer directly owned 1,500 shares of the company’s stock, valued at approximately $534,945. This represents a 76.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope Cochran sold 1,566 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total transaction of $538,782.30. Following the sale, the director owned 25,444 shares in the company, valued at approximately $8,754,008.20. This represents a 5.80% 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 a total of 40,696 shares of company stock worth $16,098,655 in the last three months. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MDB shares. Oppenheimer upped their target price on MongoDB from $410.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Morgan Stanley raised their price target on shares of MongoDB from $380.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Evercore initiated coverage on shares of MongoDB in a research note on Friday, August 21st. They set an “outperform” rating and a $525.00 price objective for the company. Canaccord Genuity Group increased their price objective on shares of MongoDB from $400.00 to $480.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $560.00 price objective on shares of MongoDB in a research note on Wednesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $471.81.

About MongoDB

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.