Spyglass Capital Management LLC Sells 12,089 Shares of MongoDB, Inc. $MDB

Spyglass Capital Management LLC lowered its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,174 shares of the company’s stock after selling 12,089 shares during the quarter. MongoDB comprises 4.4% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Spyglass Capital Management LLC owned about 0.32% of MongoDB worth $61,969,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. ValueAct Holdings L.P. lifted its stake in shares of MongoDB by 206.8% in the 3rd 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 period. State Street Corp grew its stake 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 during the period. Amundi grew its stake in MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares during the period. Geode Capital Management LLC increased its holdings in MongoDB by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after purchasing an additional 9,693 shares in the last quarter. Finally, Norges Bank bought a new stake in MongoDB in the fourth quarter worth approximately $574,821,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cantor Fitzgerald increased their price target on MongoDB from $378.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Oppenheimer lifted their price objective on shares of MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research report on Friday, May 29th. Citizens Jmp reissued a “market outperform” rating and set a $366.00 target price on shares of MongoDB in a research note on Friday, May 29th. Finally, UBS Group raised their price target on shares of MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $405.35.

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the director directly owned 29,326 shares of the company’s stock, valued at approximately $10,264,100. The trade was a 3.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight A. Merriman sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total value of $377,702.50. Following the completion of the sale, the director directly owned 982,953 shares of the company’s stock, valued at approximately $328,552,040.25. This trade represents a 0.11% decrease in their ownership of the stock. 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 127,746 shares of company stock worth $47,343,538 over the last ninety days. Insiders own 2.60% of the company’s stock.

MongoDB Trading Up 0.3%

NASDAQ MDB opened at $310.62 on Wednesday. The company has a market cap of $24.98 billion, a P/E ratio of -839.51, a PEG ratio of 1,269.30 and a beta of 1.55. The company has a fifty day simple moving average of $335.86 and a 200 day simple moving average of $317.73. MongoDB, Inc. has a 12-month low of $198.47 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share 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 firm had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. 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. Sell-side analysts predict that MongoDB, Inc. will post 0.02 EPS for the current year.

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.