Alta Park Capital LP Has $10.36 Million Stock Position in MongoDB, Inc. $MDB

Alta Park Capital LP reduced its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 58.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,687 shares of the company’s stock after selling 34,916 shares during the period. Alta Park Capital LP’s holdings in MongoDB were worth $10,361,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MDB. Cornerstone Planning Group LLC grew 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 buying an additional 61 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of MongoDB during the fourth quarter valued at about $28,000. Huntington National Bank grew its holdings in shares of MongoDB by 110.9% during the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of MongoDB during the fourth quarter valued at about $33,000. Finally, Root Financial Partners LLC grew its holdings in shares of MongoDB by 58.2% during the fourth 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. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Performance

MongoDB stock opened at $334.69 on Thursday. MongoDB, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $444.72. The stock has a market cap of $26.92 billion, a PE ratio of -904.57, a price-to-earnings-growth ratio of 1,258.00 and a beta of 1.57. The firm’s 50-day simple moving average is $301.54 and its 200 day simple moving average is $335.27.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.19 by $0.13. The business had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the firm 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. As a group, analysts predict 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 dated Monday, June 15th. The shares were sold at an average price of $356.63, for a total value of $1,783,150.00. Following the sale, the chief financial officer owned 6,500 shares of the company’s stock, valued at approximately $2,318,095. The trade was a 43.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 dated 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 directly owned 150,550 shares in the company, valued at approximately $59,929,438.50. This represents a 22.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 137,616 shares of company stock valued at $49,371,944. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MDB shares. Canaccord Genuity Group lifted their price objective on shares of MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. DA Davidson restated a “buy” rating and set a $375.00 price target on shares of MongoDB in a report on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Stifel Nicolaus set a $435.00 price target on shares of MongoDB in a report on Friday, May 29th. Finally, Truist Financial cut their price target on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, MongoDB has an average 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.