Contour Asset Management LLC Purchases New Shares in MongoDB, Inc. $MDB

Contour Asset Management LLC purchased a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 198,944 shares of the company’s stock, valued at approximately $83,495,000. MongoDB makes up about 1.9% of Contour Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Contour Asset Management LLC owned about 0.24% of MongoDB as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Avala Global LP raised its stake in shares of MongoDB by 8.9% in the fourth quarter. Avala Global LP now owns 299,166 shares of the company’s stock valued at $125,557,000 after acquiring an additional 24,366 shares during the period. Ardsley Advisory Partners LP purchased a new stake in shares of MongoDB in the fourth quarter valued at $8,694,000. Alight Capital Management LP raised its stake in shares of MongoDB by 11.1% in the fourth quarter. Alight Capital Management LP now owns 20,000 shares of the company’s stock valued at $8,394,000 after acquiring an additional 2,000 shares during the period. American Trust raised its stake in shares of MongoDB by 14.0% in the fourth quarter. American Trust now owns 792 shares of the company’s stock valued at $332,000 after acquiring an additional 97 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of MongoDB by 53.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 79,562 shares of the company’s stock valued at $33,391,000 after acquiring an additional 27,725 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Trading Down 4.0%

NASDAQ MDB opened at $334.69 on Thursday. The company’s 50-day moving average price is $301.54 and its 200-day moving average price is $335.27. The stock has a market cap of $26.92 billion, a PE ratio of -904.57, a PEG ratio of 1,258.00 and a beta of 1.57. MongoDB, Inc. has a 12 month low of $196.00 and a 12 month high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping 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 company had revenue of $687.62 million for the quarter, compared to analysts’ expectations of $664.53 million. During the same period in the prior year, the business earned $1.00 EPS. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. 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 forecast that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the transaction, the chief financial officer directly owned 6,500 shares in the company, valued at $2,318,095. This represents a 43.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the stock in a transaction dated 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 transaction, the director owned 161,762 shares in the company, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 137,616 shares of company stock valued at $49,371,944 in the last 90 days. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MDB. Monness Crespi & Hardt increased their target price on shares of MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Robert W. Baird increased their target price on shares of MongoDB from $260.00 to $335.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. UBS Group increased their target price on shares of MongoDB from $275.00 to $350.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. BMO Capital Markets increased their target price on shares of MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Cantor Fitzgerald increased their target price on shares of MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $396.39.

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.