Fred Alger Management LLC raised its stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 7.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 561,614 shares of the company’s stock after purchasing an additional 38,225 shares during the quarter. MongoDB accounts for about 0.9% of Fred Alger Management LLC’s portfolio, making the stock its 21st largest position. Fred Alger Management LLC’s holdings in MongoDB were worth $235,704,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in MDB. Integrated Wealth Concepts LLC grew its holdings in shares of MongoDB by 31.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after purchasing an additional 327 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of MongoDB by 55.0% during the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after purchasing an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of MongoDB during the 2nd quarter valued at $329,000. Cresset Asset Management LLC grew its holdings in shares of MongoDB by 13.4% during the 2nd quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock valued at $659,000 after purchasing an additional 370 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of MongoDB by 28.3% during the 2nd quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock valued at $2,565,000 after purchasing an additional 2,697 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.
Insider Activity
In other news, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the completion of the sale, the director directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hope F. Cochran sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the director directly owned 27,010 shares of the company’s stock, valued at approximately $9,453,500. This represents a 3.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 132,616 shares of company stock worth $47,588,794. 2.60% of the stock is currently owned by corporate insiders.
MongoDB Stock Down 1.5%
MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 expect that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently commented on MDB. Guggenheim reaffirmed a “buy” rating and set a $475.00 target price on shares of MongoDB in a report on Friday, May 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $366.00 target price on shares of MongoDB in a report on Friday, May 29th. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a report on Monday, June 8th. Oppenheimer increased their target price on shares of MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $385.00 target price on shares of MongoDB in a report on Tuesday, May 26th. Twenty-eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average price target of $396.39.
View Our Latest Stock Report on MongoDB
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.
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