MongoDB, Inc. $MDB Shares Sold by Styrax Capital LP

Key Points

• Styrax Capital cut its MongoDB stake by 45.7% in the first quarter, selling 46,372 shares and retaining 55,000 shares worth approximately $13.5 million. Institutional investors still own about 89.3% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $405.35, despite MongoDB shares opening at $298.22 and trading well below their one-year high of $444.72.
• MongoDB exceeded quarterly expectations, reporting $1.32 in adjusted EPS and $687.62 million in revenue, up 25.2% year over year. Insiders sold 127,746 shares worth roughly $47.3 million over the past three months.

Styrax Capital LP trimmed its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 45.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,000 shares of the company's stock after selling 46,372 shares during the period. MongoDB accounts for approximately 0.9% of Styrax Capital LP's portfolio, making the stock its 17th largest position. Styrax Capital LP owned about 0.07% of MongoDB worth $13,462,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. OMERS ADMINISTRATION Corp lifted its stake in shares of MongoDB by 13.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 32,831 shares of the company's stock worth $8,036,000 after acquiring an additional 3,984 shares during the period. Lead Edge Capital Management LLC raised its holdings in MongoDB by 33.1% during the first quarter. Lead Edge Capital Management LLC now owns 170,425 shares of the company's stock worth $41,715,000 after purchasing an additional 42,370 shares during the last quarter. Bradley Foster & Sargent Inc. CT acquired a new position in shares of MongoDB during the 1st quarter worth $1,304,000. Lombard Odier Asset Management Switzerland SA acquired a new position in MongoDB during the first quarter worth about $545,000. Finally, Waverly Advisors LLC grew its position in shares of MongoDB by 76.5% in the first quarter. Waverly Advisors LLC now owns 2,378 shares of the company's stock valued at $582,000 after purchasing an additional 1,031 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MDB shares. Piper Sandler raised 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. Zacks Research raised shares of MongoDB from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Robert W. Baird raised their price target on MongoDB from $260.00 to $335.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 20th. Canaccord Genuity Group lifted their price target on shares of MongoDB from $375.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Finally, Tigress Financial lifted their price objective on MongoDB from $430.00 to $515.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $405.35.

MongoDB Stock Performance

NASDAQ MDB opened at $298.22 on Monday. MongoDB, Inc. has a one year low of $198.47 and a one year high of $444.72. The company has a 50-day simple moving average of $336.75 and a 200-day simple moving average of $319.53. The firm 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.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating 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 business 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 firm earned $1.00 EPS. The company'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. Equities analysts forecast that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Roelof Botha sold 44,050 shares of the business's 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 completion of the transaction, the director directly owned 150,550 shares in the company, valued at approximately $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 1,130 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total value of $377,702.50. Following the transaction, the director owned 982,953 shares of the company's stock, valued at $328,552,040.25. This trade represents a 0.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 127,746 shares of company stock valued at $47,343,538 in the last three months. 2.60% of the stock is owned by corporate insiders.

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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