Insider Selling: MongoDB (NASDAQ:MDB) Director Sells 40,000 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dev Ittycheria sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the transaction, the director owned 161,762 shares of the company’s stock, valued at $61,980,727.92. This represents a 19.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

MongoDB Price Performance

NASDAQ:MDB traded up $1.82 during midday trading on Monday, reaching $352.56. 1,746,741 shares of the company traded hands, compared to its average volume of 2,048,704. MongoDB, Inc. has a twelve month low of $196.00 and a twelve month high of $444.72. The firm has a market capitalization of $28.34 billion, a price-to-earnings ratio of -952.86, a price-to-earnings-growth ratio of 1,505.91 and a beta of 1.57. The company has a fifty day moving average price of $285.37 and a 200 day moving average price of $334.31.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. During the same quarter in the previous year, the firm 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. On average, equities research analysts forecast that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. ValueAct Holdings L.P. raised its stake 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 buying an additional 1,427,700 shares in the last quarter. Norges Bank bought a new stake in shares of MongoDB in the 4th quarter worth $574,821,000. AQR Capital Management LLC raised its stake in shares of MongoDB by 2,567.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after buying an additional 1,069,969 shares in the last quarter. Jericho Capital Asset Management L.P. raised its stake in shares of MongoDB by 162.1% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after buying an additional 852,540 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of MongoDB by 162.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock worth $340,505,000 after buying an additional 678,746 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings lowered MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered MongoDB from a “buy” rating to a “hold” rating in a research report on Sunday. Wells Fargo & Company reduced their price target on MongoDB from $450.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $385.00 price target on shares of MongoDB in a research report on Tuesday, May 26th. Finally, UBS Group boosted their price target on MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Twenty-eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $396.39.

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.