Jennison Associates LLC Makes New $8.72 Million Investment in MongoDB, Inc. $MDB

Jennison Associates LLC acquired a new position in MongoDB, Inc. (NASDAQ:MDB) during the first quarter, HoldingsChannel reports. The institutional investor acquired 35,642 shares of the company’s stock, valued at approximately $8,724,000.

Several other hedge funds have also recently made changes to their positions in MDB. Cornerstone Planning Group LLC raised its holdings in shares of MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in MongoDB in the fourth quarter valued at $28,000. International Assets Investment Management LLC bought a new stake in MongoDB in the fourth quarter valued at $33,000. Root Financial Partners LLC increased its position in MongoDB by 58.2% during the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares during the period. Finally, Global Trust Asset Management LLC purchased a new position in MongoDB during the 4th quarter valued at $38,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MongoDB

In other news, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the transaction, the director directly owned 161,762 shares in the company, valued at $61,980,727.92. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the director directly owned 29,326 shares of the company’s stock, valued at approximately $10,264,100. This represents a 3.30% 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. In the last 90 days, insiders sold 127,746 shares of company stock valued at $47,343,538. 2.60% of the stock is currently owned by corporate insiders.

MongoDB Stock Down 4.9%

Shares of MDB opened at $307.65 on Wednesday. The business’s 50 day moving average price is $337.07 and its 200-day moving average price is $321.91. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72. The stock has a market cap of $24.74 billion, a P/E ratio of -831.49, a P/E/G ratio of 1,325.25 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The company had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last 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. On average, equities analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDB. UBS Group raised their target price 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. DA Davidson reiterated a “buy” rating and set a $375.00 price target on shares of MongoDB in a research report on Friday, May 29th. Monness Crespi & Hardt increased their price target on shares of MongoDB from $370.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Wedbush raised their price objective on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $395.00 price objective on shares of MongoDB in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.