Assenagon Asset Management S.A. Buys 21,273 Shares of MongoDB, Inc. $MDB

Key Points

• Assenagon Asset Management increased its MongoDB stake by 19.9%, purchasing 21,273 shares to hold 128,080 shares valued at approximately $43 million. Institutional investors collectively own 89.29% of MongoDB.
• MongoDB insiders have been selling shares: directors Dev Ittycheria and Hope F. Cochran disclosed sales, while insiders sold 125,746 shares worth $46.8 million over the past three months.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and $405.35 target price. MongoDB recently beat quarterly earnings and revenue expectations, reporting $687.6 million in revenue, up 25.2% year over year.

Assenagon Asset Management S.A. boosted its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 19.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,080 shares of the company's stock after purchasing an additional 21,273 shares during the period. Assenagon Asset Management S.A. owned about 0.16% of MongoDB worth $43,022,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDB. Cornerstone Planning Group LLC increased its stake in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after buying an additional 61 shares during the period. International Assets Investment Management LLC bought a new stake in MongoDB during the 4th quarter valued at $33,000. Root Financial Partners LLC boosted its position in 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 buying an additional 32 shares during the period. CX Institutional boosted its position in MongoDB by 94.3% during the 2nd quarter. CX Institutional now owns 103 shares of the company's stock valued at $35,000 after buying an additional 50 shares during the period. Finally, Murphy & Mullick Capital Management Corp grew its holdings in MongoDB by 500.0% in the 4th quarter. Murphy & Mullick Capital Management Corp now owns 120 shares of the company's stock worth $50,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 89.29% of the company's stock.

Insider Buying and Selling at MongoDB

In related news, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction dated 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 completion of the transaction, the director directly owned 161,762 shares of the company's stock, valued at $61,980,727.92. This trade represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $344.05, for a total transaction of $538,782.30. Following the sale, the director directly owned 25,444 shares in the company, valued at $8,754,008.20. The trade was a 5.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 125,746 shares of company stock valued at $46,763,418. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MDB shares. Zacks Research upgraded shares of MongoDB from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Robert W. Baird boosted their price target on MongoDB from $260.00 to $335.00 and gave the company a "neutral" rating in a report on Wednesday, May 20th. UBS Group upped their price target on MongoDB from $275.00 to $350.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Weiss Ratings reissued a "sell (e+)" rating on shares of MongoDB in a research note on Friday, July 24th. Finally, Wedbush raised their price target on MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a research note 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $405.35.

MongoDB Stock Performance

MongoDB stock opened at $398.80 on Friday. MongoDB, Inc. has a fifty-two week low of $198.47 and a fifty-two week high of $444.72. The stock's 50 day simple moving average is $341.98 and its two-hundred day simple moving average is $315.79. The stock has a market cap of $32.08 billion, a price-to-earnings ratio of -1,077.84, a PEG ratio of 1,634.43 and a beta of 1.55.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company had revenue of $687.62 million during the quarter, compared to analysts' expectations of $664.53 million. During the same quarter last year, the business posted $1.00 EPS. The firm's revenue for the quarter was up 25.2% compared to the same quarter last year. 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, analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current year.

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.

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