Westfield Capital Management Co. LP Sells 21,785 Shares of MongoDB, Inc. $MDB

Key Points

• Westfield Capital Management cut its MongoDB stake by 12% in the fourth quarter, selling 21,785 shares and leaving it with 159,529 shares worth about $66.95 million.
• MongoDB saw notable insider selling, including Director Roelof Botha’s sale of 44,050 shares; insiders sold 76,616 shares in the last quarter overall.
• The stock was down 7.7% to $350.74 after earnings that beat estimates, with revenue up 25.2% year over year and analysts maintaining a Moderate Buy consensus with a $394.45 price target.

Westfield Capital Management Co. LP lessened its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 159,529 shares of the company's stock after selling 21,785 shares during the quarter. Westfield Capital Management Co. LP owned 0.20% of MongoDB worth $66,953,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of MongoDB by 5.0% in the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company's stock valued at $2,788,981,000 after acquiring an additional 431,382 shares during the period. ValueAct Holdings L.P. boosted its position 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 acquiring an additional 1,427,700 shares during the period. State Street Corp boosted its position 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 acquiring an additional 63,434 shares during the period. Amundi lifted its position in MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company's stock worth $477,550,000 after purchasing an additional 563,995 shares during the period. Finally, Geode Capital Management LLC lifted its position in MongoDB by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company's stock worth $604,429,000 after purchasing an additional 9,693 shares during the period. Institutional investors own 89.29% of the company's stock.

Insider Activity

In other news, Director Roelof Botha sold 44,050 shares of the company'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 value of $17,534,983.50. Following the completion of the transaction, the director owned 150,550 shares of the company's stock, valued at $59,929,438.50. This represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the transaction, the director directly owned 24,093 shares of the company's stock, valued at $6,007,107.69. This represents a 6.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 76,616 shares of company stock valued at $26,629,774 over the last quarter. 2.60% of the stock is owned by company insiders.

MongoDB Trading Down 7.7%

MDB stock opened at $350.74 on Friday. The stock has a market capitalization of $28.19 billion, a P/E ratio of -947.95 and a beta of 1.57. MongoDB, Inc. has a 12 month low of $196.00 and a 12 month high of $444.72. The firm has a 50-day moving average price of $285.37 and a 200-day moving average price of $334.35.

MongoDB (NASDAQ:MDB - Get Free Report) last posted 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. The firm 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%. The business's revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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, equities analysts predict that MongoDB, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wedbush upped their price objective on shares of MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Monness Crespi & Hardt upped their price objective 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. Barclays upped their price objective on shares of MongoDB from $370.00 to $387.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Zacks Research raised shares of MongoDB from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Finally, Piper Sandler upped their price objective on shares of MongoDB from $330.00 to $400.00 and gave the stock an "overweight" rating 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 assigned a Sell rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of "Moderate Buy" and a consensus price target of $394.45.

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.

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.