MongoDB, Inc. $MDB Stock Position Lowered by Jericho Capital Asset Management L.P.

Jericho Capital Asset Management L.P. trimmed its holdings in MongoDB, Inc. (NASDAQ:MDB) by 27.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 996,540 shares of the company’s stock after selling 382,000 shares during the period. MongoDB accounts for 4.8% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 6th largest holding. Jericho Capital Asset Management L.P.’s holdings in MongoDB were worth $418,238,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted 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 valued at $27,000 after purchasing an additional 61 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of MongoDB during the 4th quarter worth approximately $28,000. Huntington National Bank lifted its stake in MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in MongoDB during the 4th quarter valued at $33,000. Finally, Root Financial Partners LLC increased its position in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after buying an additional 32 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Trading Down 4.0%

Shares of MDB stock opened at $334.69 on Thursday. The company’s fifty day simple moving average is $301.54 and its 200-day simple moving average is $335.27. The company has a market cap of $26.92 billion, a PE ratio of -904.57, a P/E/G ratio of 1,258.00 and a beta of 1.57. MongoDB, Inc. has a 52 week low of $196.00 and a 52 week high of $444.72.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same period last year, the business posted $1.00 EPS. 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. Equities research analysts expect that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the sale, the chief financial officer directly owned 6,500 shares in the company, valued at $2,318,095. The trade was a 43.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of MongoDB 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 completion of 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 137,616 shares of company stock worth $49,371,944. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MDB shares. Weiss Ratings downgraded MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Piper Sandler boosted their target price on shares of MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. BMO Capital Markets upped their target price on shares of MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating on shares of MongoDB in a research note on Friday, May 29th. Finally, Wall Street Zen lowered shares of MongoDB from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $396.39.

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.