Alta Park Capital LP Sells 34,916 Shares of MongoDB, Inc. $MDB

Alta Park Capital LP lowered its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 58.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,687 shares of the company’s stock after selling 34,916 shares during the period. Alta Park Capital LP’s holdings in MongoDB were worth $10,361,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MDB. Integrated Wealth Concepts LLC raised its stake in shares of MongoDB by 31.6% during the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after acquiring an additional 327 shares during the last quarter. NewEdge Advisors LLC raised its stake in MongoDB by 55.0% during the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock worth $743,000 after buying an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC bought a new position in MongoDB during the second quarter worth $329,000. Cresset Asset Management LLC raised its stake in MongoDB by 13.4% during the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock worth $659,000 after buying an additional 370 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in MongoDB by 28.3% during the second quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock worth $2,565,000 after buying an additional 2,697 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the subject of a number of analyst reports. Piper Sandler lifted their target price 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. Royal Bank Of Canada reissued an “outperform” rating and set a $395.00 target price on shares of MongoDB in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of MongoDB from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Tigress Financial lifted their target price on shares of MongoDB from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Citigroup reissued a “buy” rating on shares of MongoDB in a research note on Monday, June 8th. Twenty-eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $396.39.

Insiders Place Their Bets

In other MongoDB news, Director Roelof Botha sold 44,050 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value of $17,534,983.50. Following the completion of the sale, the director directly owned 150,550 shares in the company, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael J. Berry sold 5,000 shares of the firm’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 completion of the sale, the chief financial officer owned 6,500 shares of the company’s stock, valued at $2,318,095. The trade was a 43.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 137,616 shares of company stock valued at $49,371,944. 2.60% of the stock is currently owned by corporate insiders.

MongoDB Trading Down 4.0%

NASDAQ:MDB opened at $334.69 on Thursday. The stock has a market capitalization of $26.92 billion, a price-to-earnings ratio of -904.57, a PEG ratio of 1,258.00 and a beta of 1.57. The firm has a fifty day simple moving average of $301.54 and a two-hundred day simple moving average of $335.27. MongoDB, Inc. has a 12 month low of $196.00 and a 12 month high of $444.72.

MongoDB (NASDAQ:MDB) last posted 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 business 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 quarterly revenue was up 25.2% on a year-over-year basis. During the same period last 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. Equities 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.