Light Street Capital Management LLC Takes $16.80 Million Position in MongoDB, Inc. $MDB

Light Street Capital Management LLC bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $16,795,000. MongoDB makes up 1.9% of Light Street Capital Management LLC’s holdings, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in MongoDB by 32,986.4% in the 2nd quarter. California State Teachers Retirement System now owns 39,528,376 shares of the company’s stock valued at $13,277,581,000 after acquiring an additional 39,408,906 shares during the period. ValueAct Holdings L.P. increased 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 worth $657,447,000 after acquiring an additional 1,427,700 shares in the last quarter. State Street Corp raised its position in 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 acquiring an additional 40,219 shares during the period. Amundi raised its position 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 acquiring an additional 563,995 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in MongoDB by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after purchasing an additional 9,693 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In related news, Director Hope Cochran sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the director owned 29,326 shares of the company’s stock, valued at approximately $10,264,100. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Berry sold 5,000 shares of MongoDB stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the transaction, the chief financial officer owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% 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 40,696 shares of company stock worth $16,098,655 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $430.00 target price on shares of MongoDB in a research report on Wednesday, September 2nd. Stifel Nicolaus reduced their price target on shares of MongoDB from $475.00 to $465.00 and set a “buy” rating for the company in a research report on Wednesday, September 2nd. DA Davidson reaffirmed a “buy” rating and issued a $465.00 price target on shares of MongoDB in a research note on Wednesday, September 2nd. UBS Group lowered their price objective on MongoDB from $460.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, September 2nd. Finally, Morgan Stanley boosted their price objective on MongoDB from $380.00 to $430.00 and gave the stock an “overweight” rating 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $471.81.

MongoDB Price Performance

MDB traded down $12.74 on Tuesday, reaching $356.00. 2,487,500 shares of the company’s stock were exchanged, compared to its average volume of 1,905,459. The stock has a market cap of $28.63 billion, a PE ratio of 501.41, a P/E/G ratio of 38.75 and a beta of 1.58. MongoDB, Inc. has a twelve month low of $215.68 and a twelve month high of $473.10. The stock’s fifty day moving average price is $374.88 and its 200-day moving average price is $322.61.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $771.77 million during the quarter, compared to analysts’ expectations of $735.01 million. During the same quarter in the prior year, the company earned $1.00 EPS. MongoDB’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 predict that MongoDB, Inc. will post 0.48 earnings per share for the current fiscal year.

About MongoDB

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.