Engineers Gate Manager LP Lowers Stock Position in MongoDB, Inc. $MDB

by · The Markets Daily

Engineers Gate Manager LP cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 37.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,021 shares of the company’s stock after selling 17,024 shares during the period. Engineers Gate Manager LP’s holdings in MongoDB were worth $9,748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of MongoDB by 32,986.4% during the 2nd quarter. California State Teachers Retirement System now owns 39,528,376 shares of the company’s stock worth $13,277,581,000 after purchasing an additional 39,408,906 shares during the period. ValueAct Holdings L.P. raised its position in MongoDB by 206.8% in the third 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 during the period. State Street Corp raised its position in MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after purchasing an additional 40,219 shares during the period. Amundi lifted its stake in MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in MongoDB by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after purchasing an additional 9,693 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDB has been the subject of several research analyst reports. Evercore initiated coverage on MongoDB in a research report on Friday, August 21st. They set an “outperform” rating and a $525.00 price target for the company. Canaccord Genuity Group increased their target price on MongoDB from $400.00 to $480.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Truist Financial raised their target price on MongoDB from $400.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, August 20th. DA Davidson reiterated a “buy” rating and set a $465.00 price target on shares of MongoDB in a research note on Wednesday, September 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $470.00 price target (up from $400.00) on shares of MongoDB in a research note on Wednesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $471.81.

Check Out Our Latest Stock Analysis on MongoDB

MongoDB Stock Up 4.3%

Shares of MongoDB stock opened at $373.87 on Friday. MongoDB, Inc. has a 52 week low of $215.68 and a 52 week high of $473.10. The firm’s 50 day moving average is $375.64 and its two-hundred day moving average is $322.79. The firm has a market capitalization of $30.07 billion, a P/E ratio of 526.58, a P/E/G ratio of 37.83 and a beta of 1.58.

MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.28. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The business had revenue of $771.77 million during the quarter, compared to the consensus estimate of $735.01 million. During the same quarter in the previous year, the firm earned $1.00 EPS. The company’s revenue was up 30.5% compared to the same quarter last year. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. As a group, research analysts expect that MongoDB, Inc. will post 0.48 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Dwight Merriman sold 6,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $451.75, for a total value of $2,710,500.00. Following the completion of the sale, the director directly owned 452,896 shares of the company’s stock, valued at $204,595,768. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope Cochran sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 29,326 shares of the company’s stock, valued at $10,264,100. This represents a 3.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,696 shares of company stock valued at $12,559,555 over the last ninety days. Insiders own 2.60% of the company’s stock.

MongoDB Profile

(Free Report)

MongoDB, Inc develops database software and data platform services for organizations building, deploying and operating modern applications. Its flagship technology is a document-oriented database that stores data in flexible, JSON-like documents, helping developers manage varied data structures and support applications that require scalability and rapid development.

The company offers MongoDB Atlas, a fully managed cloud database service available across major cloud providers, as well as MongoDB Enterprise Advanced for organizations that operate databases in private, hybrid or multicloud environments.

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