MongoDB, Inc. $MDB Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its MongoDB stake by 24.5% in the first quarter, buying 20,990 additional shares and bringing its holdings to 106,807 shares worth about $26.1 million.
• Several other hedge funds also boosted their positions, and 89.29% of MongoDB shares are held by institutional investors, highlighting strong institutional interest in the stock.
• MongoDB reported better-than-expected quarterly results, with earnings of $1.32 per share and revenue of $687.62 million, while analysts maintain a Moderate Buy consensus and a $396.39 price target.

Assenagon Asset Management S.A. lifted its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 24.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,807 shares of the company's stock after purchasing an additional 20,990 shares during the period. Assenagon Asset Management S.A. owned approximately 0.13% of MongoDB worth $26,143,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MDB. Cramer Rosenthal Mcglynn LLC boosted its stake in shares of MongoDB by 897.7% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company's stock worth $17,938,000 after acquiring an additional 52,002 shares in the last quarter. Kinetic Partners Management LP increased its position in shares of MongoDB by 27.2% during the third quarter. Kinetic Partners Management LP now owns 195,769 shares of the company's stock valued at $60,763,000 after purchasing an additional 41,810 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of MongoDB by 115.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company's stock valued at $148,872,000 after purchasing an additional 189,820 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in MongoDB by 69.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company's stock valued at $145,029,000 after buying an additional 141,755 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. grew its position in 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 acquiring an additional 852,540 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MDB. Needham & Company LLC reissued an "overweight" rating on shares of MongoDB in a research note on Friday, May 29th. Citigroup reissued a "buy" rating on shares of MongoDB in a research note on Monday, June 8th. The Goldman Sachs Group reduced their target price on MongoDB from $475.00 to $320.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Canaccord Genuity Group boosted their price target on shares of MongoDB from $375.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Finally, Monness Crespi & Hardt lifted their price target on MongoDB from $370.00 to $415.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $396.39.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction 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 transaction, the director directly owned 983,316 shares in the company, valued at $348,005,365.56. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Berry sold 5,000 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the transaction, the chief financial officer owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 139,182 shares of company stock worth $49,910,727 in the last three months. Insiders own 2.60% of the company's stock.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $314.71 on Friday. The stock has a market cap of $25.31 billion, a P/E ratio of -850.56, a price-to-earnings-growth ratio of 1,060.69 and a beta of 1.57. MongoDB, Inc. has a 52-week low of $198.47 and a 52-week high of $444.72. The firm has a 50 day moving average price of $312.40 and a two-hundred day moving average price of $332.51.

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 the consensus estimate of $1.19 by $0.13. The company had revenue of $687.62 million during the quarter, compared to analysts' expectations of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. MongoDB's revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period in the prior year, the company 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. Analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

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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