Melqart Asset Management UK Ltd Cuts Stock Position in MongoDB, Inc. $MDB

Key Points

• Melqart Asset Management UK Ltd cut its MongoDB stake by 14.6% in the fourth quarter, selling 4,759 shares and leaving it with 27,738 shares valued at about $11.64 million.
• Insider selling was significant: directors Roelof Botha and Dev Ittycheria sold a combined 84,050 shares in early June, and insiders have sold 132,616 shares over the last 90 days.
• MongoDB reported strong quarterly results, beating EPS and revenue estimates with $1.32 EPS and $687.62 million in revenue, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $396.39.

Melqart Asset Management UK Ltd decreased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,738 shares of the company's stock after selling 4,759 shares during the period. MongoDB comprises approximately 1.1% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 29th largest holding. Melqart Asset Management UK Ltd's holdings in MongoDB were worth $11,641,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MDB. ValueAct Holdings L.P. increased its holdings in MongoDB by 206.8% in the 3rd 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 in the last quarter. Norges Bank purchased a new position in MongoDB during the fourth quarter valued at $574,821,000. AQR Capital Management LLC grew its position in shares of MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock valued at $233,435,000 after purchasing an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. grew its position 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 purchasing an additional 852,540 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased 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 worth $340,505,000 after purchasing an additional 678,746 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Buying and Selling

In related news, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the transaction, the director owned 150,550 shares in the company, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dev Ittycheria sold 40,000 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the transaction, the director directly owned 161,762 shares in the company, valued at $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. Insiders have sold 132,616 shares of company stock valued at $47,588,794 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

MongoDB Trading Down 1.5%

MDB opened at $348.81 on Wednesday. The firm has a market capitalization of $28.05 billion, a PE ratio of -942.73, a PEG ratio of 1,277.37 and a beta of 1.57. MongoDB, Inc. has a twelve month low of $196.00 and a twelve month high of $444.72. The firm's 50-day moving average price is $299.95 and its 200 day moving average price is $335.21.

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

Analyst Ratings Changes

Several research firms recently weighed in on MDB. Monness Crespi & Hardt upped their price target on shares of MongoDB from $370.00 to $415.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. UBS Group lifted their price objective on MongoDB from $275.00 to $350.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Weiss Ratings lowered MongoDB from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, April 29th. Rosenblatt Securities reissued a "buy" rating and set a $385.00 target price on shares of MongoDB in a report on Tuesday, May 26th. Finally, Guggenheim restated a "buy" rating and issued a $475.00 target price on shares of MongoDB in a research report on Friday, May 29th. Twenty-eight 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $396.39.

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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