140,780 Shares in MongoDB, Inc. $MDB Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the 1st quarter, HoldingsChannel reports. The firm bought 140,780 shares of the company’s stock, valued at approximately $34,459,000.

A number of other institutional investors have also added to or reduced their stakes in the business. ValueAct Holdings L.P. lifted its position in shares of MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares during the period. Norges Bank purchased a new position in MongoDB during the fourth quarter valued at approximately $574,821,000. AQR Capital Management LLC increased its holdings in MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after buying an additional 1,069,969 shares during the period. Massachusetts Financial Services Co. MA raised its stake in MongoDB by 611.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock worth $300,120,000 after buying an additional 614,559 shares in the last quarter. Finally, Amundi raised its stake in MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after buying an additional 563,995 shares in 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 weighed in on MDB. Needham & Company LLC upped their target price on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Oppenheimer boosted their price target on MongoDB from $375.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Wedbush raised their price objective on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Morgan Stanley lifted their target price on MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Citigroup reiterated a “buy” rating on shares of MongoDB in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $405.35.

MongoDB Trading Up 0.3%

NASDAQ MDB opened at $310.62 on Wednesday. The firm’s fifty day simple moving average is $335.86 and its two-hundred day simple moving average is $317.73. The firm has a market capitalization of $24.98 billion, a P/E ratio of -839.51, a P/E/G ratio of 1,269.30 and a beta of 1.55. MongoDB, Inc. has a 12-month low of $198.47 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data 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 firm had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. During the same quarter in the prior year, the business posted $1.00 EPS. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. 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, sell-side analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Roelof Botha sold 44,050 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $297.99, for a total value of $2,979,900.00. Following the completion of the sale, the director directly owned 993,316 shares of the company’s stock, valued at approximately $295,998,234.84. This represents a 1.00% 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. Insiders sold a total of 127,746 shares of company stock worth $47,343,538 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

MongoDB Company 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.