Jennison Associates LLC Acquires New Holdings in MongoDB, Inc. $MDB

Jennison Associates LLC bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 35,642 shares of the company’s stock, valued at approximately $8,724,000.

Several other institutional investors and hedge funds have also bought and sold shares of MDB. Root Financial Partners LLC grew its position in shares of MongoDB by 58.2% during the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares in the last quarter. HighPoint Advisor Group LLC raised its position in shares of MongoDB by 2.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock worth $626,000 after buying an additional 36 shares in the last quarter. Lido Advisors LLC boosted its stake in MongoDB by 3.4% during the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock valued at $458,000 after buying an additional 36 shares during the period. Whittier Trust Co. boosted its stake in MongoDB by 4.3% during the fourth quarter. Whittier Trust Co. now owns 976 shares of the company’s stock valued at $425,000 after buying an additional 40 shares during the period. Finally, Larson Financial Group LLC grew its position in MongoDB by 21.4% during the fourth quarter. Larson Financial Group LLC now owns 238 shares of the company’s stock worth $100,000 after buying an additional 42 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Trading Down 4.9%

NASDAQ MDB opened at $307.65 on Wednesday. MongoDB, Inc. has a 1-year low of $198.47 and a 1-year high of $444.72. The stock has a 50-day moving average of $337.07 and a 200-day moving average of $321.91. The firm has a market cap of $24.74 billion, a PE ratio of -831.49, a price-to-earnings-growth ratio of 1,325.25 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.13. The business 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 EPS. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. As a group, equities research analysts forecast that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Canaccord Genuity Group upped their target price on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Monness Crespi & Hardt lifted their price target on MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Stifel Nicolaus set a $435.00 price objective on MongoDB in a report on Friday, May 29th. Morgan Stanley upped their price objective on shares of MongoDB from $335.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Mizuho raised their target price on shares of MongoDB from $325.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $405.35.

Insider Transactions at MongoDB

In related news, CFO Michael J. Berry sold 5,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the sale, the chief financial officer directly owned 1,500 shares in the company, valued at $534,945. This represents a 76.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the sale, the director directly owned 161,762 shares of the company’s stock, valued at $61,980,727.92. The trade was a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 127,746 shares of company stock valued at $47,343,538. 2.60% of the stock is currently owned by insiders.

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.