Avalon Global Asset Management LLC acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) in the fourth quarter, Holdings Channel reports. The firm acquired 25,000 shares of the company’s stock, valued at approximately $10,492,000. MongoDB makes up about 1.7% of Avalon Global Asset Management LLC’s holdings, making the stock its 21st biggest position.
Several other hedge funds have also recently modified their holdings of MDB. Cornerstone Planning Group LLC grew its holdings in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after acquiring an additional 61 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of MongoDB in the fourth quarter worth $28,000. Huntington National Bank grew its holdings in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after acquiring an additional 51 shares during the period. International Assets Investment Management LLC bought a new stake in shares of MongoDB in the fourth quarter worth $33,000. Finally, Root Financial Partners LLC grew its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on MDB. Stifel Nicolaus set a $435.00 price objective on MongoDB in a report on Friday, May 29th. Truist Financial cut their price objective on MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a report on Monday, June 8th. BMO Capital Markets boosted their price target on MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, Needham & Company LLC reissued an “overweight” rating on shares of MongoDB in a report on Friday, May 29th. Twenty-eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.39.
Insider Transactions at MongoDB
In other MongoDB news, Director Roelof Botha sold 44,050 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the sale, the director 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the sale, the director directly owned 24,093 shares of the company’s stock, valued at $6,007,107.69. The trade was a 6.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 116,616 shares of company stock worth $41,956,174 in the last ninety days. 2.60% of the stock is owned by company insiders.
MongoDB Price Performance
Shares of MDB stock opened at $354.18 on Tuesday. MongoDB, Inc. has a 1 year low of $196.00 and a 1 year high of $444.72. The stock’s 50 day simple moving average is $298.04 and its two-hundred day simple moving average is $335.05. The company has a market cap of $28.49 billion, a PE ratio of -957.24, a price-to-earnings-growth ratio of 1,236.33 and a beta of 1.57.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the business 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 research analysts expect that MongoDB, Inc. will post 0.02 EPS for the current year.
MongoDB Company 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.
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