Arrowstreet Capital Limited Partnership Lowers Position in MongoDB, Inc. $MDB

Arrowstreet Capital Limited Partnership trimmed its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 49.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 672,221 shares of the company’s stock after selling 664,176 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in MongoDB were worth $164,540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDB. Cornerstone Planning Group LLC increased its holdings in shares of MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after buying an additional 61 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of MongoDB in the 4th quarter valued at about $33,000. Root Financial Partners LLC grew its position in MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after acquiring an additional 32 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in MongoDB in the fourth quarter worth about $38,000. Finally, Murphy & Mullick Capital Management Corp increased its stake in MongoDB by 500.0% during the fourth quarter. Murphy & Mullick Capital Management Corp now owns 120 shares of the company’s stock worth $50,000 after acquiring an additional 100 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Hope F. Cochran sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 29,326 shares in the company, valued at $10,264,100. The trade was a 3.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the sale, the director owned 161,762 shares of the company’s stock, valued at approximately $61,980,727.92. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 127,746 shares of company stock worth $47,343,538. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a research note on Monday, June 8th. Guggenheim restated a “buy” rating and issued a $475.00 price target on shares of MongoDB in a research report on Friday, May 29th. BMO Capital Markets lifted their price objective on shares of MongoDB from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Rosenblatt Securities reiterated a “buy” rating and set a $385.00 price objective on shares of MongoDB in a research report on Tuesday, May 26th. Finally, Canaccord Genuity Group increased their target price on shares of MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $405.35.

MongoDB Price Performance

NASDAQ:MDB opened at $298.22 on Friday. MongoDB, Inc. has a 1-year low of $198.47 and a 1-year high of $444.72. The company has a 50-day moving average of $336.75 and a 200 day moving average of $320.24. The firm has a market cap of $23.99 billion, a PE ratio of -806.00, a price-to-earnings-growth ratio of 1,225.98 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the company 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. Sell-side analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current fiscal 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.