Peregrine Investment Management Inc. Cuts Position in MongoDB, Inc. $MDB

Peregrine Investment Management Inc. lowered its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 60.2% during the first quarter, Holdings Channel reports. The fund owned 10,400 shares of the company’s stock after selling 15,740 shares during the period. MongoDB comprises 2.0% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 20th largest position. Peregrine Investment Management Inc.’s holdings in MongoDB were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of MDB. Cornerstone Planning Group LLC raised its stake in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of MongoDB in the fourth quarter valued at $28,000. Huntington National Bank raised its stake in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after acquiring an additional 51 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of MongoDB in the fourth quarter valued at $33,000. Finally, Root Financial Partners LLC raised its stake in shares of MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after acquiring an additional 32 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

NASDAQ:MDB opened at $342.80 on Monday. The firm has a market capitalization of $27.57 billion, a PE ratio of -926.49, a price-to-earnings-growth ratio of 1,236.33 and a beta of 1.57. The business’s fifty day moving average price is $296.01 and its 200 day moving average price is $334.89. MongoDB, Inc. has a 12 month low of $196.00 and a 12 month high of $444.72.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. The firm had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.MongoDB’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the company 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 analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $297.99, for a total value of $2,979,900.00. Following the transaction, the director owned 993,316 shares of the company’s stock, valued at $295,998,234.84. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the transaction, the director owned 24,093 shares of the company’s stock, valued at $6,007,107.69. This represents a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 116,616 shares of company stock worth $41,956,174. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on MDB shares. Needham & Company LLC reiterated an “overweight” rating on shares of MongoDB in a research note on Friday, May 29th. Bank of America increased their price objective on MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Wedbush increased their price objective on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Oppenheimer increased their price objective on MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $395.00 price objective on shares of MongoDB in a research note on Tuesday, May 19th. Twenty-eight equities research 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 has a consensus rating of “Moderate Buy” and an average price target of $396.39.

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.