Engineers Gate Manager LP Decreases Stock Position in MongoDB, Inc. $MDB

Engineers Gate Manager LP cut its holdings in MongoDB, Inc. (NASDAQ:MDB) by 17.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,897 shares of the company’s stock after selling 17,992 shares during the quarter. Engineers Gate Manager LP owned about 0.11% of MongoDB worth $36,470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. ValueAct Holdings L.P. increased its holdings in shares of 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 period. Norges Bank acquired a new position in shares of MongoDB in the fourth quarter valued at about $574,821,000. AQR Capital Management LLC increased its holdings in shares of MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after purchasing an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. increased its holdings in shares of MongoDB by 162.1% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after purchasing an additional 852,540 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of MongoDB by 162.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after purchasing an additional 678,746 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of research reports. Citizens Jmp reissued a “market outperform” rating and issued a $366.00 price objective on shares of MongoDB in a report on Friday, May 29th. Scotiabank reissued an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Canaccord Genuity Group increased their price objective on MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Morgan Stanley increased their price objective on MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Guggenheim reissued a “buy” rating and issued a $475.00 price objective on shares of MongoDB in a report on Friday, May 29th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $396.39.

MongoDB Stock Down 4.0%

MongoDB stock opened at $334.69 on Thursday. The firm has a market cap of $26.92 billion, a price-to-earnings ratio of -904.57, a price-to-earnings-growth ratio of 1,258.00 and a beta of 1.57. MongoDB, Inc. has a 52 week low of $196.00 and a 52 week high of $444.72. The business’s 50-day moving average price is $301.54 and its 200 day moving average price is $335.27.

MongoDB (NASDAQ:MDB) last posted 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. The firm had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.MongoDB’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period last year, the company earned $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. Equities analysts expect that MongoDB, Inc. will post 0.02 EPS for the current year.

Insider Activity

In related news, Director Roelof Botha sold 44,050 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the sale, the director directly owned 150,550 shares of the company’s stock, valued at $59,929,438.50. This trade represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hope F. Cochran sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the director directly owned 27,010 shares in the company, valued at approximately $9,453,500. This trade represents a 3.57% 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 sold 137,616 shares of company stock valued at $49,371,944 over the last 90 days. 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.