MongoDB, Inc. $MDB is Lead Edge Capital Management LLC's 4th Largest Position

Key Points

• Lead Edge Capital Management boosted its MongoDB stake by 33.1% in Q1, making MDB its 4th largest position and about 10.2% of its portfolio.
• MongoDB reported better-than-expected quarterly results, posting EPS of $1.32 and revenue of $687.6 million, with revenue up 25.2% year over year.
• Despite the solid results, insiders sold shares during the quarter, while Wall Street remains bullish overall with a consensus rating of Moderate Buy and an average price target of $405.35.

Lead Edge Capital Management LLC increased its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 33.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 170,425 shares of the company's stock after purchasing an additional 42,370 shares during the quarter. MongoDB makes up approximately 10.2% of Lead Edge Capital Management LLC's investment portfolio, making the stock its 4th biggest position. Lead Edge Capital Management LLC owned approximately 0.21% of MongoDB worth $41,715,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of MDB. ValueAct Holdings L.P. increased 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 buying an additional 1,427,700 shares in the last quarter. Norges Bank purchased a new position in shares of MongoDB during the 4th quarter valued at about $574,821,000. AQR Capital Management LLC grew its stake in shares of MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock valued at $233,435,000 after acquiring an additional 1,069,969 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of MongoDB by 611.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company's stock valued at $300,120,000 after acquiring an additional 614,559 shares during the period. Finally, Amundi increased its holdings in MongoDB by 61.3% in the 3rd quarter. Amundi now owns 1,483,396 shares of the company's stock worth $477,550,000 after acquiring an additional 563,995 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 1,130 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total transaction of $377,702.50. Following the sale, the director directly owned 982,953 shares of the company's stock, valued at $328,552,040.25. This represents a 0.11% decrease in their position. The sale was disclosed in a legal 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 stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the director owned 29,326 shares of the company's stock, valued at $10,264,100. This represents a 3.30% 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. Over the last quarter, insiders have sold 127,746 shares of company stock worth $47,343,538. Insiders own 2.60% of the company's stock.

MongoDB Stock Down 0.3%

MDB opened at $298.22 on Friday. The company has a market capitalization of $23.99 billion, a PE ratio of -806.00, a price-to-earnings-growth ratio of 1,222.21 and a beta of 1.55. The firm has a 50-day simple moving average of $336.75 and a two-hundred day simple moving average of $320.24. 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 firm had revenue of $687.62 million for the quarter, compared to analysts' expectations of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business's revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $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. As a group, sell-side analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Monness Crespi & Hardt raised their target price on shares of MongoDB from $370.00 to $415.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. Canaccord Genuity Group increased their price objective on shares of MongoDB from $375.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. KGI Securities initiated coverage on shares of MongoDB in a research report on Wednesday, July 8th. They set an "outperform" rating and a $470.00 price objective on the stock. Piper Sandler raised their price objective 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. Finally, Citizens Jmp restated a "market outperform" rating and set a $366.00 target price on shares of MongoDB in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $405.35.

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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