Melqart Asset Management UK Ltd Trims Stock Position in MongoDB, Inc. $MDB

Melqart Asset Management UK Ltd trimmed its position in MongoDB, Inc. (NASDAQ:MDB) by 14.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,738 shares of the company’s stock after selling 4,759 shares during the quarter. MongoDB comprises 1.1% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 29th biggest position. Melqart Asset Management UK Ltd’s holdings in MongoDB were worth $11,641,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC increased its holdings in shares of MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after buying an additional 61 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in MongoDB in the fourth quarter valued at approximately $28,000. Huntington National Bank grew its position in MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after acquiring an additional 51 shares during the period. International Assets Investment Management LLC purchased a new position in MongoDB in the fourth quarter worth approximately $33,000. Finally, Root Financial Partners LLC increased its stake 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 acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MDB. Monness Crespi & Hardt lifted their target price on MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Rosenblatt Securities reissued a “buy” rating and set a $385.00 price objective on shares of MongoDB in a research report on Tuesday, May 26th. UBS Group boosted their price objective on shares of MongoDB from $275.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Morgan Stanley upped their target price on shares of MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Finally, Weiss Ratings lowered shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. 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 company’s stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $396.39.

MongoDB Trading Down 1.5%

Shares of NASDAQ MDB opened at $348.81 on Wednesday. MongoDB, Inc. has a twelve month low of $196.00 and a twelve month high of $444.72. The stock has a fifty day simple moving average of $299.95 and a 200-day simple moving average of $335.21. The stock has a market capitalization of $28.05 billion, a PE ratio of -942.73, a PEG ratio of 1,277.37 and a beta of 1.57.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. During the same quarter in the prior year, the company earned $1.00 EPS. MongoDB’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. On average, equities analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In related news, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value of $17,534,983.50. Following the completion of the transaction, the director owned 150,550 shares in the company, valued at approximately $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dev Ittycheria sold 40,000 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 161,762 shares in the company, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 132,616 shares of company stock valued at $47,588,794 over the last three months. 2.60% of the stock is currently owned by company insiders.

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.