SteelPeak Wealth LLC Takes $653,000 Position in MongoDB, Inc. $MDB

SteelPeak Wealth LLC purchased a new position in MongoDB, Inc. (NASDAQ:MDB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,667 shares of the company’s stock, valued at approximately $653,000.

Other large investors have also recently made changes to their positions in the company. ValueAct Holdings L.P. lifted its holdings in MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. State Street Corp grew its holdings in shares of MongoDB by 2.3% during the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after buying an additional 40,219 shares in the last quarter. Amundi raised its position in shares of MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after buying an additional 563,995 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MongoDB by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after buying an additional 9,693 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of MongoDB in the fourth quarter worth about $574,821,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Down 5.0%

Shares of MongoDB stock opened at $312.33 on Friday. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72. The business’s fifty day simple moving average is $336.51 and its 200-day simple moving average is $324.09. The firm has a market cap of $25.12 billion, a PE ratio of -844.14, a price-to-earnings-growth ratio of 1,126.45 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the business posted $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. As a group, equities analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Insider Activity at MongoDB

In other news, CFO Michael J. Berry sold 5,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $534,945. This represents a 76.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 completion of the transaction, the director owned 161,762 shares in the company, valued at approximately $61,980,727.92. This represents a 19.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 127,746 shares of company stock valued at $47,343,538 over the last quarter. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDB. Wedbush boosted their price target on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Needham & Company LLC increased their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 10th. 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 note on Friday, May 29th. Wall Street Zen upgraded MongoDB from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Cantor Fitzgerald upped their price target on MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $405.35.

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.