OP Asset Management Ltd Purchases New Stake in MongoDB, Inc. $MDB

OP Asset Management Ltd acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,658 shares of the company’s stock, valued at approximately $2,119,000.

Several other hedge funds have also added to or reduced their stakes in the stock. ValueAct Holdings L.P. raised its holdings in shares of MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares during the period. State Street Corp lifted its stake in MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after purchasing an additional 40,219 shares during the last quarter. Amundi grew its holdings in MongoDB by 61.3% during 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 during the period. Geode Capital Management LLC grew its holdings in MongoDB by 0.7% during 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 during the period. Finally, Jericho Capital Asset Management L.P. increased its position in MongoDB by 162.1% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after buying an additional 852,540 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group upped their price target on MongoDB from $275.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Wells Fargo & Company decreased their price objective on MongoDB from $450.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Monness Crespi & Hardt boosted their price objective on MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Cantor Fitzgerald upped their price objective on shares of MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Wedbush upped their price objective on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $396.39.

Insider Activity

In related news, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were 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 owned 983,316 shares of the company’s stock, valued at approximately $348,005,365.56. The trade was a 1.01% decrease in their ownership of the stock. The sale 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 Dev Ittycheria sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the sale, the director directly owned 161,762 shares in the company, valued at $61,980,727.92. This trade represents a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 139,182 shares of company stock valued at $49,910,727 over the last ninety days. 2.60% of the stock is owned by insiders.

MongoDB Stock Performance

NASDAQ:MDB opened at $314.71 on Monday. The business’s fifty day moving average is $312.40 and its 200 day moving average is $331.90. The firm has a market cap of $25.31 billion, a price-to-earnings ratio of -850.56, a PEG ratio of 1,132.50 and a beta of 1.57. MongoDB, Inc. has a 52-week low of $198.47 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. During the same quarter last year, the company earned $1.00 EPS. The firm’s 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 predict that MongoDB, Inc. will post 0.02 EPS 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.