Arrowstreet Capital Limited Partnership Sells 664,176 Shares of MongoDB, Inc. $MDB

Key Points

• Arrowstreet Capital cut its MongoDB stake by 49.7% in the first quarter, selling 664,176 shares and leaving it with 672,221 shares worth about $164.5 million.
• MongoDB’s stock received mostly positive analyst coverage, with several firms raising price targets or ratings; the consensus rating is currently Moderate Buy with an average target of $405.35.
• The company’s latest earnings beat expectations, posting $1.32 EPS and $687.62 million in revenue, while revenue rose 25.2% year over year despite continued negative profitability metrics.

Arrowstreet Capital Limited Partnership lowered its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 672,221 shares of the company's stock after selling 664,176 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.84% of MongoDB worth $164,540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDB. Integrated Wealth Concepts LLC grew its position in shares of MongoDB by 31.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company's stock valued at $239,000 after purchasing an additional 327 shares in the last quarter. NewEdge Advisors LLC boosted its stake in MongoDB by 55.0% during the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company's stock valued at $743,000 after buying an additional 1,504 shares during the period. Sivia Capital Partners LLC bought a new stake in MongoDB during the second quarter valued at $329,000. Cresset Asset Management LLC grew its position in MongoDB by 13.4% during the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company's stock worth $659,000 after buying an additional 370 shares in the last quarter. Finally, Cerity Partners LLC grew its position in MongoDB by 28.3% during the second quarter. Cerity Partners LLC now owns 12,215 shares of the company's stock worth $2,565,000 after buying an additional 2,697 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on MDB shares. Wedbush raised their price target on MongoDB from $380.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 29th. Weiss Ratings downgraded MongoDB from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded MongoDB from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Guggenheim reiterated a "buy" rating and issued a $475.00 price objective on shares of MongoDB in a report on Friday, May 29th. Finally, Bank of America increased their price objective on MongoDB from $390.00 to $450.00 and gave the company a "buy" rating in a research report on Monday, June 8th. One investment 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 company. According to data from MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and an average price target of $405.35.

Insider Buying and Selling at MongoDB

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the completion of the sale, the chief financial officer owned 1,500 shares in the company, valued at $534,945. This represents a 76.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the director owned 29,326 shares of the company's stock, valued at approximately $10,264,100. This trade represents a 3.30% 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 valued at $47,343,538 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

MongoDB Stock Performance

MDB stock opened at $298.22 on Friday. The company has a market cap of $23.99 billion, a price-to-earnings ratio of -806.00, a P/E/G ratio of 1,225.98 and a beta of 1.55. The business's 50-day moving average is $336.75 and its two-hundred day moving average is $320.24. MongoDB, Inc. has a fifty-two week low of $198.47 and a fifty-two week high of $444.72.

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

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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