Panagora Asset Management Inc. Makes New $30.81 Million Investment in MongoDB, Inc. $MDB

Panagora Asset Management Inc. acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,417 shares of the company’s stock, valued at approximately $30,812,000.

Other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in MongoDB during the fourth quarter worth $28,000. Cornerstone Planning Group LLC raised its holdings in MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after buying an additional 61 shares during the last quarter. International Assets Investment Management LLC acquired a new position in MongoDB during the fourth quarter worth $33,000. Root Financial Partners LLC raised its holdings in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after buying an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in MongoDB during the fourth quarter worth $38,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

MDB has been the topic of several research reports. Sanford C. Bernstein downgraded shares of MongoDB from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 3rd. UBS Group increased their target price on shares of MongoDB from $275.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Stifel Nicolaus set a $435.00 target price on shares of MongoDB in a report on Friday, May 29th. Oppenheimer increased their target price on shares of MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company lowered their target price on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $396.39.

MongoDB Price Performance

Shares of MDB stock opened at $354.18 on Tuesday. The firm has a 50-day moving average of $298.04 and a 200-day moving average of $335.05. The company has a market cap of $28.49 billion, a P/E ratio of -957.24, a P/E/G ratio of 1,236.33 and a beta of 1.57. MongoDB, Inc. has a one year low of $196.00 and a one year high of $444.72.

MongoDB (NASDAQ:MDB) last announced 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 company had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. 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, research analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction dated 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 in the company, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $297.99, for a total transaction of $2,979,900.00. Following the transaction, the director owned 993,316 shares of the company’s stock, valued at approximately $295,998,234.84. The trade was a 1.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 116,616 shares of company stock worth $41,956,174 in the last ninety days. Corporate 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.