MongoDB, Inc. $MDB is Jericho Capital Asset Management L.P.’s 6th Largest Position

Jericho Capital Asset Management L.P. reduced its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 27.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 996,540 shares of the company’s stock after selling 382,000 shares during the quarter. MongoDB makes up 4.8% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 6th biggest holding. Jericho Capital Asset Management L.P. owned about 1.22% of MongoDB worth $418,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in MongoDB by 5.0% during the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after purchasing an additional 431,382 shares during the last quarter. ValueAct Holdings L.P. increased its stake in MongoDB by 206.8% in the third 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 raised its holdings in MongoDB by 2.3% during the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after purchasing an additional 40,219 shares in the last quarter. Amundi lifted its position in shares of MongoDB by 61.3% during the 3rd 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. Finally, Geode Capital Management LLC lifted its position in shares of MongoDB by 0.7% during the 4th 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 last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of MDB stock opened at $334.69 on Thursday. The business’s fifty day moving average price is $301.54 and its 200 day moving average price is $335.27. The firm has a market capitalization of $26.92 billion, a PE ratio of -904.57, a P/E/G ratio of 1,258.00 and a beta of 1.57. MongoDB, Inc. has a 1-year low of $196.00 and a 1-year high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. During the same period in the previous year, the firm earned $1.00 EPS. The business’s revenue was up 25.2% on a year-over-year basis. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Equities research analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MDB shares. Zacks Research raised shares of MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Bank of America upped their price objective on shares of MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Morgan Stanley lifted their target price on MongoDB from $335.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. DA Davidson reissued a “buy” rating and issued a $375.00 target price on shares of MongoDB in a report on Friday, May 29th. Finally, Monness Crespi & Hardt upped their target price on MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $396.39.

Insider Activity

In other MongoDB news, Director Hope F. Cochran sold 1,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the director directly owned 27,010 shares in the company, valued at approximately $9,453,500. This represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a 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 Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $348.92, for a total transaction of $2,093,520.00. Following the sale, the director owned 464,896 shares of the company’s stock, valued at approximately $162,211,512.32. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 137,616 shares of company stock valued at $49,371,944 in the last quarter. 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.