MongoDB (NASDAQ:MDB) Director Dwight Merriman Sells 6,000 Shares

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 6,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $348.92, for a total transaction of $2,093,520.00. Following the sale, the director owned 464,896 shares of the company’s stock, valued at $162,211,512.32. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Stock Down 1.6%

MDB stock traded down $5.51 during mid-day trading on Tuesday, reaching $348.67. 1,063,551 shares of the stock traded hands, compared to its average volume of 2,009,273. MongoDB, Inc. has a 52 week low of $196.00 and a 52 week high of $444.72. The business has a 50-day moving average of $298.04 and a two-hundred day moving average of $335.05. The firm has a market capitalization of $28.04 billion, a PE ratio of -942.35, a P/E/G ratio of 1,236.33 and a beta of 1.57.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results 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 net margin of 1.12% and a negative return on equity of 1.39%. The company had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same period in the prior year, the company earned $1.00 earnings per share. The business’s quarterly 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. On average, equities research analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new position in MongoDB in the fourth quarter worth about $28,000. Cornerstone Planning Group LLC raised its position in MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. International Assets Investment Management LLC acquired a new position in MongoDB in the fourth quarter worth about $33,000. Root Financial Partners LLC raised its position in MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after purchasing an additional 32 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in MongoDB in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the subject of several research reports. Oppenheimer increased their target price on shares of MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Canaccord Genuity Group increased their target price on shares of MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Truist Financial reduced their target price on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Morgan Stanley increased their target price on shares of MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research note on Friday, May 29th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $396.39.

MongoDB Company 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.