Delta Global Management LP Increases Stake in MongoDB, Inc. $MDB

Key Points

• Delta Global Management LP boosted its MongoDB stake by 18.1% in the fourth quarter, bringing its holdings to 65,697 shares worth about $27.6 million.
• Insider selling picked up, with Director Dev Ittycheria selling 40,000 shares for about $15.3 million; insiders sold 116,616 shares over the last three months in total.
• MongoDB reported better-than-expected quarterly results, posting $1.32 EPS on revenue of $687.62 million, while analysts currently rate the stock a Moderate Buy with a consensus target price of $396.39.

Delta Global Management LP increased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,697 shares of the company's stock after acquiring an additional 10,081 shares during the period. MongoDB makes up 1.3% of Delta Global Management LP's investment portfolio, making the stock its 15th largest holding. Delta Global Management LP owned about 0.08% of MongoDB worth $27,572,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in MongoDB by 5.0% in the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company's stock worth $2,788,981,000 after acquiring an additional 431,382 shares during the period. ValueAct Holdings L.P. raised its position in MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company's stock worth $657,447,000 after acquiring an additional 1,427,700 shares during the period. State Street Corp increased its stake in shares of MongoDB by 2.3% in 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 in the last quarter. Amundi increased its stake in shares of MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company's stock worth $477,550,000 after purchasing an additional 563,995 shares in the last quarter. Finally, 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 worth $604,429,000 after purchasing an additional 9,693 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Insider Activity at MongoDB

In related news, Director Dev Ittycheria sold 40,000 shares of the firm'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 sale, the director owned 161,762 shares of the company's stock, valued at $61,980,727.92. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the transaction, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 116,616 shares of company stock worth $41,956,174. 2.60% of the stock is owned by corporate insiders.

MongoDB Price Performance

MDB opened at $354.18 on Tuesday. The firm has a fifty day moving average price of $298.04 and a 200 day moving average price of $335.05. MongoDB, Inc. has a 1 year low of $196.00 and a 1 year high of $444.72. The stock has a market cap of $28.49 billion, a P/E ratio of -957.24, a P/E/G ratio of 1,236.33 and a beta of 1.57.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on MDB shares. Piper Sandler increased their price objective on shares of MongoDB from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. Truist Financial dropped their price objective on shares of MongoDB from $500.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Barclays lifted their price target on shares of MongoDB from $370.00 to $387.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. Zacks Research raised shares of MongoDB from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Finally, Citigroup reiterated a "buy" rating on shares of MongoDB in a report on Monday, June 8th. Twenty-eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $396.39.

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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