IvyRock Asset Management HK Ltd Purchases 1,600 Shares of MongoDB, Inc. $MDB

IvyRock Asset Management HK Ltd raised its position in MongoDB, Inc. (NASDAQ:MDB) by 123.1% in the third quarter, Holdings Channel reports. The institutional investor owned 2,900 shares of the company’s stock after purchasing an additional 1,600 shares during the period. MongoDB accounts for about 0.5% of IvyRock Asset Management HK Ltd’s portfolio, making the stock its 9th largest position. IvyRock Asset Management HK Ltd’s holdings in MongoDB were worth $1,011,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MDB. Bank of America Corp DE grew its holdings in MongoDB by 0.3% in the first quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock valued at $135,922,000 after purchasing an additional 1,852 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of MongoDB by 19.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 337,780 shares of the company’s stock valued at $118,807,000 after buying an additional 54,907 shares in the last quarter. Amundi raised its stake in shares of MongoDB by 17.8% during the 1st quarter. Amundi now owns 376,447 shares of the company’s stock worth $92,143,000 after buying an additional 56,888 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of MongoDB by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 373,992 shares of the company’s stock worth $91,514,000 after buying an additional 11,606 shares during the period. Finally, Sei Investments Co. raised its stake in shares of MongoDB by 125.3% during the 1st quarter. Sei Investments Co. now owns 367,663 shares of the company’s stock worth $89,979,000 after buying an additional 204,446 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles Hazard, Jr. sold 595 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $350.46, for a total transaction of $208,523.70. Following the completion of the transaction, the director directly owned 44,642 shares in the company, valued at approximately $15,645,235.32. This represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $359.97, for a total value of $3,599,700.00. Following the sale, the director directly owned 952,953 shares of the company’s stock, valued at $343,034,491.41. The trade was a 1.04% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 42,465 shares of company stock worth $15,677,036. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MDB shares. UBS Group decreased their target price on MongoDB from $410.00 to $375.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Truist Financial boosted their price target on shares of MongoDB from $400.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. BMO Capital Markets reduced their price objective on shares of MongoDB from $450.00 to $420.00 and set an “outperform” rating for the company in a research report on Wednesday, September 30th. Canaccord Genuity Group increased their price objective on shares of MongoDB from $400.00 to $480.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Finally, Mizuho set a $460.00 price objective on shares of MongoDB in a report on Tuesday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $460.59.

MongoDB Stock Performance

MDB opened at $339.78 on Friday. The stock has a market capitalization of $27.37 billion, a PE ratio of 1,470.09, a P/E/G ratio of 30.78 and a beta of 1.74. MongoDB, Inc. has a one year low of $215.68 and a one year high of $473.10. The business’s 50 day moving average price is $365.91 and its 200 day moving average price is $335.96.

MongoDB (NASDAQ:MDB) last posted its earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.28. The company had revenue of $771.77 million during the quarter, compared to analysts’ expectations of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. As a group, equities research analysts forecast that MongoDB, Inc. will post 0.50 earnings per share for the current fiscal year.

MongoDB Company Profile

MongoDB, Inc. develops database software and related services for businesses and developers. Its core product, MongoDB, is a document database designed to store and manage data in a flexible format for applications across a range of industries and use cases. The company offers MongoDB Atlas, a managed cloud database service available across major cloud platforms, as well as software that customers can deploy in their own environments. MongoDB also provides tools and services for application development, database management, security, and data operations.