Cinctive Capital Management LP Invests $6.47 Million in MongoDB, Inc. $MDB

Key Points

• Cinctive Capital Management opened a new position in MongoDB, buying 15,413 shares worth about $6.47 million in the fourth quarter.
• MongoDB reported better-than-expected quarterly results, with EPS of $1.32 versus the $1.19 estimate and revenue of $687.62 million, up 25.2% year over year.
• Despite the earnings beat, the stock was down 4.0% on Thursday, while analysts remain broadly positive with a Moderate Buy consensus and a $396.39 average price target.

Cinctive Capital Management LP bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,413 shares of the company's stock, valued at approximately $6,469,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MDB. Integrated Wealth Concepts LLC raised its position in shares of MongoDB by 31.6% during the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company's stock worth $239,000 after purchasing an additional 327 shares during the period. NewEdge Advisors LLC raised its position 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 acquired a new position in MongoDB during the second quarter valued at $329,000. Cresset Asset Management LLC raised 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 valued at $659,000 after buying an additional 370 shares during the period. Finally, Cerity Partners LLC raised its position in MongoDB by 28.3% during the second quarter. Cerity Partners LLC now owns 12,215 shares of the company's stock valued at $2,565,000 after buying an additional 2,697 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Down 4.0%

Shares of NASDAQ:MDB opened at $334.69 on Thursday. The business has a 50 day moving average price of $301.54 and a 200 day moving average price of $335.27. MongoDB, Inc. has a twelve month low of $196.00 and a twelve month high of $444.72. The company has a market cap of $26.92 billion, a price-to-earnings ratio of -904.57, a PEG ratio of 1,258.00 and a beta of 1.57.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. During the same quarter in the prior year, the company earned $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. Analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MDB shares. Wall Street Zen lowered MongoDB from a "buy" rating to a "hold" rating in a research report on Sunday, June 7th. Morgan Stanley upped their price target on MongoDB from $335.00 to $380.00 and gave the company an "overweight" rating in a research report on Friday, May 29th. Tigress Financial upped their price target on MongoDB from $430.00 to $515.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Citigroup reissued a "buy" rating on shares of MongoDB in a research report on Monday, June 8th. Finally, Cantor Fitzgerald upped their price target on MongoDB from $378.00 to $416.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Twenty-eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of "Moderate Buy" and a consensus price target of $396.39.

Insider Transactions at MongoDB

In other MongoDB 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 value of $3,539,100.00. Following the completion of the transaction, the director owned 983,316 shares of the company's stock, valued at $348,005,365.56. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value 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 approximately $61,980,727.92. This trade represents a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 137,616 shares of company stock worth $49,371,944. Insiders own 2.60% of the company's stock.

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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