Capital Group Investment Management PTE. LTD. Makes New $1.28 Million Investment in MongoDB, Inc. $MDB

Key Points

• Capital Group Investment Management opened a new position in MongoDB, buying 3,049 shares valued at about $1.28 million in the fourth quarter.
• MongoDB reported better-than-expected quarterly results, with EPS of $1.32 versus estimates of $1.19 and revenue of $687.62 million, up 25.2% year over year.
• Wall Street remains constructive on the stock, with 28 Buy ratings and an average price target of $394.45; meanwhile, several insiders recently sold shares under pre-arranged trading plans.

Capital Group Investment Management PTE. LTD. acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,049 shares of the company's stock, valued at approximately $1,280,000.

Several other large investors also recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. grew its stake in shares of 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 buying an additional 1,427,700 shares during the last quarter. Norges Bank bought a new position in shares of MongoDB during the fourth quarter valued at approximately $574,821,000. AQR Capital Management LLC grew its stake in shares of MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock valued at $233,435,000 after buying an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. grew its stake in shares of MongoDB by 162.1% during 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 last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of MongoDB by 162.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company's stock valued at $340,505,000 after buying an additional 678,746 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $350.74 on Friday. The firm has a market capitalization of $28.19 billion, a price-to-earnings ratio of -947.95 and a beta of 1.57. The stock has a 50 day moving average price of $285.37 and a 200 day moving average price of $334.35. MongoDB, Inc. has a 52-week low of $196.00 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last announced 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 firm had revenue of $687.62 million during 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 quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the business 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 forecast that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. DA Davidson reaffirmed a "buy" rating and set a $375.00 target price on shares of MongoDB in a research note on Friday, May 29th. Guggenheim reaffirmed a "buy" rating and set a $475.00 target price on shares of MongoDB in a research note on Friday, May 29th. Wells Fargo & Company cut their target price on MongoDB from $450.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 3rd. Morgan Stanley upped their target price on MongoDB from $335.00 to $380.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $366.00 target price on shares of MongoDB in a research note on Friday, May 29th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MongoDB has an average rating of "Moderate Buy" and an average price target of $394.45.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 6,000 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $314.98, for a total transaction of $1,889,880.00. Following the completion of the sale, the director owned 470,896 shares in the company, valued at $148,322,822.08. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the director owned 27,010 shares of the company's stock, valued at approximately $9,453,500. This represents a 3.57% 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. Over the last quarter, insiders sold 76,616 shares of company stock worth $26,629,774. Company insiders own 2.60% of the company's stock.

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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