Elevation Point Wealth Partners LLC Makes New Investment in MongoDB, Inc. $MDB

Elevation Point Wealth Partners LLC acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,809 shares of the company’s stock, valued at approximately $688,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. ValueAct Holdings L.P. grew its stake in MongoDB by 206.8% during the 3rd 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. Norges Bank purchased a new position in shares of MongoDB during the 4th quarter valued at approximately $574,821,000. AQR Capital Management LLC grew its position in shares of MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after buying an additional 1,069,969 shares in the last quarter. Jericho Capital Asset Management L.P. grew its position in shares of MongoDB by 162.1% during 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of MongoDB by 162.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock worth $340,505,000 after buying an additional 678,746 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed an “overweight” rating on shares of MongoDB in a report on Friday, May 29th. Tigress Financial boosted their target price on shares of MongoDB from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Barclays upped their target price on shares of MongoDB from $370.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. UBS Group increased their price target on shares of MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $395.00 price target on shares of MongoDB in a research note on Tuesday, May 19th. Twenty-seven equities 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 stock. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $396.39.

Insider Buying and Selling

In other MongoDB news, 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 value of $1,783,150.00. Following the sale, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $534,945. This trade represents a 76.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the transaction, the director directly owned 150,550 shares of the company’s stock, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 139,746 shares of company stock worth $50,247,978. 2.60% of the stock is owned by company insiders.

MongoDB Stock Performance

MongoDB stock opened at $361.32 on Wednesday. The firm’s 50-day moving average is $325.22 and its 200-day moving average is $328.60. MongoDB, Inc. has a 1 year low of $198.47 and a 1 year high of $444.72. The company has a market cap of $29.06 billion, a P/E ratio of -976.54, a PEG ratio of 1,290.82 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (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 analysts’ expectations of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. MongoDB’s revenue was up 25.2% on a year-over-year basis. During the same quarter 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. As a group, sell-side analysts predict that MongoDB, Inc. will post 0.02 earnings per share 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.