Sycomore Asset Management Invests $17.54 Million in MongoDB, Inc. $MDB

Sycomore Asset Management purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, HoldingsChannel reports. The fund purchased 41,780 shares of the company’s stock, valued at approximately $17,535,000. MongoDB accounts for approximately 2.4% of Sycomore Asset Management’s holdings, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDB. Integrated Wealth Concepts LLC boosted its position in shares of MongoDB by 31.6% during the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after purchasing an additional 327 shares in the last quarter. NewEdge Advisors LLC lifted its position in MongoDB by 55.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after acquiring an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in MongoDB in the 2nd quarter valued at $329,000. Cresset Asset Management LLC lifted its position in MongoDB by 13.4% in the 2nd quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock valued at $659,000 after acquiring an additional 370 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in MongoDB by 28.3% in the 2nd quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock valued at $2,565,000 after acquiring an additional 2,697 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MDB. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $395.00 price objective on shares of MongoDB in a research report on Tuesday, May 19th. Stifel Nicolaus set a $435.00 price objective on shares of MongoDB in a research report on Friday, May 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $385.00 price objective on shares of MongoDB in a research report on Tuesday, May 26th. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a research report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Twenty-eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.39.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction on Monday, May 18th. The shares were sold at an average price of $314.98, for a total value of $1,889,880.00. Following the sale, the director directly owned 470,896 shares in the company, valued at approximately $148,322,822.08. The trade was a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 on Tuesday, June 2nd. The shares were 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 owned 150,550 shares in the company, valued at $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 116,616 shares of company stock valued at $41,956,174 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

MongoDB Trading Up 1.8%

Shares of MDB stock opened at $354.41 on Friday. MongoDB, Inc. has a 1 year low of $196.00 and a 1 year high of $444.72. The firm’s fifty day moving average price is $294.15 and its two-hundred day moving average price is $334.81. The firm has a market capitalization of $28.51 billion, a P/E ratio of -957.86, a PEG ratio of 1,256.09 and a beta of 1.57.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The firm had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. During the same period in the previous year, the business earned $1.00 EPS. The company’s revenue 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, equities research analysts forecast that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

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.