Alkeon Capital Management LLC Sells 70,000 Shares of MongoDB, Inc. $MDB

Alkeon Capital Management LLC trimmed its holdings in MongoDB, Inc. (NASDAQ:MDB) by 58.3% in the fourth quarter, HoldingsChannel reports. The fund owned 50,000 shares of the company’s stock after selling 70,000 shares during the period. Alkeon Capital Management LLC’s holdings in MongoDB were worth $20,984,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Okabena Investment Services Inc. bought a new stake in MongoDB during the 4th quarter valued at $1,836,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in MongoDB by 241.7% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 205 shares of the company’s stock valued at $86,000 after buying an additional 145 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in MongoDB by 16.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 10,319 shares of the company’s stock valued at $4,331,000 after buying an additional 1,420 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in MongoDB during the 4th quarter valued at $30,812,000. Finally, MML Investors Services LLC raised its holdings in MongoDB by 219.0% during the 4th quarter. MML Investors Services LLC now owns 8,588 shares of the company’s stock valued at $3,604,000 after buying an additional 5,896 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. DA Davidson reiterated a “buy” rating and set a $375.00 price target on shares of MongoDB in a report on Friday, May 29th. Oppenheimer upped their price target on shares of MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $395.00 price target on shares of MongoDB in a report on Tuesday, May 19th. Guggenheim reiterated a “buy” rating and set a $475.00 price target on shares of MongoDB in a report on Friday, May 29th. Finally, Cantor Fitzgerald upped their price target on shares of MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.39.

MongoDB Trading Up 3.3%

Shares of NASDAQ MDB opened at $354.18 on Tuesday. MongoDB, Inc. has a 12 month low of $196.00 and a 12 month high of $444.72. The firm has a market capitalization of $28.49 billion, a PE ratio of -957.24, a price-to-earnings-growth ratio of 1,236.33 and a beta of 1.57. The firm has a fifty day simple moving average of $298.04 and a two-hundred day simple moving average of $335.05.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data 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 business had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. During the same period in the prior year, the business earned $1.00 EPS. The company’s revenue for the quarter 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. On average, sell-side analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Roelof Botha sold 44,050 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value of $17,534,983.50. Following the completion of the transaction, the director directly owned 150,550 shares in the company, valued at approximately $59,929,438.50. This represents a 22.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dev Ittycheria sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the sale, the director directly owned 161,762 shares in the company, valued at $61,980,727.92. This represents a 19.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 116,616 shares of company stock valued at $41,956,174 over the last quarter. Company insiders own 2.60% of the company’s stock.

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.