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

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 6,000 shares of MongoDB stock in a transaction dated 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 transaction, the director owned 470,896 shares in the company, valued at $148,322,822.08. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Stock Performance

MongoDB stock traded up $17.84 during midday trading on Monday, reaching $330.00. The stock had a trading volume of 2,685,051 shares, compared to its average volume of 1,825,074. The firm’s fifty day simple moving average is $262.43 and its 200-day simple moving average is $335.74. MongoDB, Inc. has a 1-year low of $182.43 and a 1-year high of $444.72. The stock has a market capitalization of $26.52 billion, a P/E ratio of -375.00 and a beta of 1.48.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. During the same quarter last year, the firm earned $1.28 EPS. MongoDB’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, sell-side analysts anticipate that MongoDB, Inc. will post -0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MDB shares. DA Davidson cut their target price on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Needham & Company LLC decreased their price objective on MongoDB from $500.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. BMO Capital Markets upped their target price on MongoDB from $285.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday. Sanford C. Bernstein downgraded MongoDB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 3rd. Finally, Mizuho upgraded MongoDB from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $290.00 to $325.00 in a research report on Monday, March 23rd. Twenty-six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $364.23.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. Cornerstone Planning Group LLC increased its holdings 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. Central Pacific Bank Trust Division bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $28,000. Huntington National Bank boosted its position in shares of MongoDB by 110.9% during the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of MongoDB during the fourth quarter valued at approximately $33,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of MongoDB during the first quarter valued at approximately $34,000. 89.29% of the stock is currently owned by institutional investors.

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.