MongoDB, Inc. $MDB is Spyglass Capital Management LLC’s 9th Largest Position

Spyglass Capital Management LLC reduced its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 4.6% during the first quarter, Holdings Channel reports. The firm owned 253,174 shares of the company’s stock after selling 12,089 shares during the period. MongoDB makes up 4.4% of Spyglass Capital Management LLC’s holdings, making the stock its 9th largest holding. Spyglass Capital Management LLC’s holdings in MongoDB were worth $61,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC increased its stake in MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after buying an additional 32 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of MongoDB by 2.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock valued at $626,000 after acquiring an additional 36 shares in the last quarter. Lido Advisors LLC increased its position in shares of MongoDB by 3.4% during the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock valued at $458,000 after acquiring an additional 36 shares during the last quarter. Whittier Trust Co. increased its position in shares of MongoDB by 4.3% during the fourth quarter. Whittier Trust Co. now owns 976 shares of the company’s stock valued at $425,000 after acquiring an additional 40 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of MongoDB by 21.4% during the fourth quarter. Larson Financial Group LLC now owns 238 shares of the company’s stock valued at $100,000 after acquiring an additional 42 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other MongoDB news, 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 sale, the director owned 150,550 shares of the company’s stock, valued at $59,929,438.50. The trade was a 22.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $344.05, for a total value of $538,782.30. Following the sale, the director owned 25,444 shares in the company, valued at approximately $8,754,008.20. This represents a 5.80% decrease in their position. 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. Insiders sold 127,746 shares of company stock worth $47,343,538 in the last three months. Insiders own 2.60% of the company’s stock.

MongoDB Stock Up 0.3%

NASDAQ MDB opened at $310.62 on Wednesday. The company has a market cap of $24.98 billion, a PE ratio of -839.51, a price-to-earnings-growth ratio of 1,269.30 and a beta of 1.55. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72. The firm’s 50-day simple moving average is $335.86 and its two-hundred day simple moving average is $317.73.

MongoDB (NASDAQ:MDB) last posted its 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. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The firm 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 earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. 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, equities research analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

MDB has been the topic of several research analyst reports. Zacks Research raised MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Piper Sandler raised their target price on MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. DA Davidson reiterated a “buy” rating and set a $375.00 target price on shares of MongoDB in a research note on Friday, May 29th. Truist Financial boosted their price target on shares of MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, KGI Securities began coverage on shares of MongoDB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $470.00 price target for the company. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.35.

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.