Capelight Capital Asset Management LP Acquires Shares of 5,000 MongoDB, Inc. $MDB

Key Points

• Capelight Capital initiated a new position in MongoDB during Q1, buying 5,000 shares valued at about $1.224 million. MongoDB now represents 0.9% of the fund’s holdings.
• Analyst sentiment remains largely positive, with several firms raising price targets and the stock carrying a consensus rating of Moderate Buy and a target price of $396.39.
• Insiders have been selling shares, including Director Dwight A. Merriman and CFO Michael J. Berry, with total insider sales reaching 139,746 shares worth about $50.25 million over the past three months.

Capelight Capital Asset Management LP purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the company's stock, valued at approximately $1,224,000. MongoDB makes up 0.9% of Capelight Capital Asset Management LP's holdings, making the stock its 27th biggest holding.

Several other hedge funds have also recently bought and sold shares of MDB. ValueAct Holdings L.P. raised its position in MongoDB by 206.8% during 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 in the last quarter. State Street Corp lifted its holdings in shares of MongoDB by 2.3% during the fourth quarter. State Street Corp now owns 1,796,847 shares of the company's stock worth $754,119,000 after purchasing an additional 40,219 shares during the period. Amundi lifted its holdings in MongoDB by 61.3% during the 3rd quarter. Amundi now owns 1,483,396 shares of the company's stock worth $477,550,000 after buying an additional 563,995 shares during the period. Geode Capital Management LLC increased its stake in shares of MongoDB by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company's stock valued at $604,429,000 after buying an additional 9,693 shares during the period. Finally, Jericho Capital Asset Management L.P. increased its stake 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 buying an additional 852,540 shares during the period. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their price objective on MongoDB from $375.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Cantor Fitzgerald upped their price objective on shares of MongoDB from $378.00 to $416.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of MongoDB from a "buy" rating to a "hold" rating in a research note on Sunday, June 7th. Rosenblatt Securities restated a "buy" rating and issued a $385.00 target price on shares of MongoDB in a report on Tuesday, May 26th. Finally, Piper Sandler upped their price target on shares of MongoDB from $330.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, May 29th. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $396.39.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $353.91, for a total transaction of $3,539,100.00. Following the transaction, the director directly owned 983,316 shares of the company's stock, valued at approximately $348,005,365.56. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Berry sold 5,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $534,945. This trade represents a 76.92% 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 139,746 shares of company stock worth $50,247,978 over the last three months. 2.60% of the stock is currently owned by company insiders.

MongoDB Stock Down 1.3%

Shares of MDB stock opened at $354.88 on Friday. The firm has a 50 day moving average of $319.37 and a 200-day moving average of $329.84. The company has a market cap of $28.54 billion, a price-to-earnings ratio of -959.14, a price-to-earnings-growth ratio of 1,296.12 and a beta of 1.55. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its 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 net margin of 1.12% and a negative return on equity of 1.39%. MongoDB's revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm 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. Analysts anticipate that MongoDB, Inc. will post 0.02 earnings per share for the current year.

MongoDB 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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