Sycomore Asset Management Invests $17.54 Million in MongoDB, Inc. $MDB

Key Points

• Sycomore Asset Management disclosed a new position in MongoDB, buying 41,780 shares valued at about $17.54 million. The stake represents 2.4% of its portfolio and roughly 0.05% of MongoDB.
• Several other major institutional investors also increased their MongoDB holdings, including Vanguard, ValueAct, State Street, and Amundi, while institutions and hedge funds now own 89.29% of the company.
• MongoDB’s latest quarter beat expectations, with EPS of $1.32 versus $1.19 expected and revenue of $687.6 million, up 25.2% year over year. Analysts remain broadly positive, with an average rating of Moderate Buy and an average price target of $396.39.

Sycomore Asset Management acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 41,780 shares of the company's stock, valued at approximately $17,535,000. MongoDB makes up 2.4% of Sycomore Asset Management's holdings, making the stock its 10th largest position. Sycomore Asset Management owned about 0.05% of MongoDB as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of MongoDB by 5.0% during the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company's stock worth $2,788,981,000 after buying an additional 431,382 shares in the last quarter. ValueAct Holdings L.P. increased its holdings in shares of MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company's stock valued at $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. State Street Corp increased its holdings in shares of MongoDB by 3.7% in the third quarter. State Street Corp now owns 1,756,628 shares of the company's stock valued at $545,222,000 after purchasing an additional 63,434 shares in the last quarter. Amundi increased its holdings in shares of MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company's stock valued at $477,550,000 after purchasing an additional 563,995 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 valued at $604,429,000 after purchasing an additional 9,693 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Analysts Set New Price Targets

MDB has been the subject of a number of research reports. The Goldman Sachs Group lowered their price target on shares of MongoDB from $475.00 to $320.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Truist Financial lowered their price target on shares of MongoDB from $500.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Stifel Nicolaus set a $435.00 price target on shares of MongoDB in a report on Friday, May 29th. Canaccord Genuity Group raised 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, Robert W. Baird raised their price target on shares of MongoDB from $260.00 to $335.00 and gave the company a "neutral" rating in a report on Wednesday, May 20th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of "Moderate Buy" and an average target price of $396.39.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction on Friday, May 29th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the director owned 27,010 shares of the company's stock, valued at approximately $9,453,500. The trade was a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction 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 sale, the director directly owned 150,550 shares of the company's stock, valued at $59,929,438.50. This represents a 22.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 116,616 shares of company stock worth $41,956,174 over the last quarter. 2.60% of the stock is currently owned by insiders.

MongoDB Stock Performance

MDB opened at $354.41 on Friday. The company has a fifty day moving average price of $294.15 and a two-hundred day moving average price of $334.81. MongoDB, Inc. has a 52 week low of $196.00 and a 52 week high of $444.72. The firm has a market capitalization of $28.51 billion, a PE ratio of -957.86, a P/E/G ratio of 1,256.09 and a beta of 1.57.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $1.32 EPS 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 firm had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. During the same quarter in the previous year, the business earned $1.00 EPS. The business's quarterly revenue 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 EPS for the current 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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