Fred Alger Management LLC Grows Stock Holdings in MongoDB, Inc. $MDB

Fred Alger Management LLC boosted its holdings in MongoDB, Inc. (NASDAQ:MDB) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,614 shares of the company’s stock after buying an additional 38,225 shares during the period. MongoDB makes up 0.9% of Fred Alger Management LLC’s investment portfolio, making the stock its 21st biggest holding. Fred Alger Management LLC owned approximately 0.69% of MongoDB worth $235,704,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. &PARTNERS grew its stake in MongoDB by 45.9% in the 4th quarter. &PARTNERS now owns 2,093 shares of the company’s stock valued at $878,000 after buying an additional 658 shares in the last quarter. ExodusPoint Capital Management LP grew its stake in MongoDB by 425.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 76,940 shares of the company’s stock valued at $32,291,000 after buying an additional 62,284 shares in the last quarter. Diker Management LLC purchased a new position in MongoDB in the 4th quarter valued at approximately $2,098,000. Graham Capital Management L.P. grew its stake in MongoDB by 172.4% in the 4th quarter. Graham Capital Management L.P. now owns 6,162 shares of the company’s stock valued at $2,586,000 after buying an additional 3,900 shares in the last quarter. Finally, Magnetar Financial LLC grew its stake in MongoDB by 1,294.8% in the 4th quarter. Magnetar Financial LLC now owns 10,684 shares of the company’s stock valued at $4,484,000 after buying an additional 9,918 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on MDB shares. Bank of America lifted their price objective on shares of MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research note on Friday, May 29th. Wedbush increased their target price on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Sanford C. Bernstein cut shares of MongoDB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 3rd. Finally, Citigroup reiterated a “buy” rating on shares of MongoDB in a research note on Monday, June 8th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $396.39.

Insider Activity at MongoDB

In other news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction 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 transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $3,539,100.00. Following the completion of the transaction, the director directly owned 983,316 shares in the company, valued at $348,005,365.56. The trade was a 1.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 132,616 shares of company stock worth $47,588,794 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

MongoDB Price Performance

NASDAQ MDB opened at $348.81 on Wednesday. MongoDB, Inc. has a 1 year low of $196.00 and a 1 year high of $444.72. The stock has a market capitalization of $28.05 billion, a PE ratio of -942.73, a P/E/G ratio of 1,277.37 and a beta of 1.57. The company’s 50 day simple moving average is $299.95 and its two-hundred day simple moving average is $335.21.

MongoDB (NASDAQ:MDB) last issued its quarterly 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 for the quarter, compared to analyst estimates 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 firm earned $1.00 EPS. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. On average, research analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current year.

MongoDB 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.