40,000 Shares in MongoDB, Inc. $MDB Purchased by Telemark Asset Management LLC

Key Points

• Telemark Asset Management opened a new position in MongoDB, buying 40,000 shares worth about $16.8 million in the fourth quarter. MongoDB now makes up roughly 1.7% of the fund’s holdings.
• Institutional interest in MDB remains strong, with several hedge funds and investment firms significantly increasing their stakes. The article notes that 89.29% of MongoDB’s stock is owned by hedge funds and other institutional investors.
• MongoDB reported better-than-expected quarterly results, posting EPS of $1.32 versus estimates of $1.19 and revenue of $687.6 million, up 25.2% year over year. Despite that, the stock was trading down 7.7% in the session described.

Telemark Asset Management LLC purchased a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 40,000 shares of the company's stock, valued at approximately $16,788,000. MongoDB comprises about 1.7% of Telemark Asset Management LLC's holdings, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDB. Cramer Rosenthal Mcglynn LLC raised its stake in MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company's stock valued at $17,938,000 after acquiring an additional 52,002 shares during the period. Kinetic Partners Management LP raised its stake in MongoDB by 27.2% in the 3rd quarter. Kinetic Partners Management LP now owns 195,769 shares of the company's stock valued at $60,763,000 after acquiring an additional 41,810 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in MongoDB by 115.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company's stock valued at $148,872,000 after acquiring an additional 189,820 shares during the period. State of New Jersey Common Pension Fund D raised its stake in MongoDB by 5.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,936 shares of the company's stock valued at $8,981,000 after acquiring an additional 1,415 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in MongoDB by 69.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company's stock valued at $145,029,000 after acquiring an additional 141,755 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDB. Monness Crespi & Hardt boosted their price objective on MongoDB from $370.00 to $415.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Stifel Nicolaus set a $435.00 price objective on MongoDB in a research note on Friday, May 29th. Robert W. Baird lifted their target price on MongoDB from $260.00 to $335.00 and gave the company a "neutral" rating in a report on Wednesday, May 20th. UBS Group lifted their target price on MongoDB from $275.00 to $350.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Finally, Truist Financial reduced their target price on MongoDB from $500.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Twenty-eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $394.45.

MongoDB Trading Down 7.7%

Shares of NASDAQ:MDB opened at $350.74 on Friday. The company has a 50 day moving average of $285.37 and a 200 day moving average of $334.35. The stock has a market cap of $28.19 billion, a P/E ratio of -947.95 and a beta of 1.57. MongoDB, Inc. has a 12 month low of $196.00 and a 12 month high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. The company had revenue of $687.62 million during the quarter, compared to analysts' expectations of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. MongoDB's revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous 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. On average, equities analysts forecast that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction dated Friday, May 29th. 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 owned 27,010 shares in the company, valued at approximately $9,453,500. This trade represents a 3.57% decrease in their position. The sale was disclosed in a legal 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 dated Monday, May 18th. The shares were sold at an average price of $314.98, for a total value of $1,889,880.00. Following the sale, the director owned 470,896 shares of the company's stock, valued at approximately $148,322,822.08. This trade represents a 1.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 76,616 shares of company stock worth $26,629,774. 2.60% of the stock is currently owned by insiders.

MongoDB Company 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.

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