MongoDB (NASDAQ:MDB) Director Dwight Merriman Sells 10,000 Shares

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $353.91, for a total value of $3,539,100.00. Following the completion of the transaction, the director owned 983,316 shares in the company, valued at $348,005,365.56. This represents a 1.01% decrease in their position. The transaction was disclosed in a 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.

MongoDB Stock Down 1.6%

MongoDB stock traded down $5.51 during mid-day trading on Tuesday, reaching $348.67. 1,063,551 shares of the company’s stock were exchanged, compared to its average volume of 2,009,273. The business’s fifty day simple moving average is $298.04 and its 200 day simple moving average is $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, Inc. has a one year low of $196.00 and a one year high of $444.72.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.MongoDB’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. 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, sell-side analysts forecast that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in MDB. Cornerstone Planning Group LLC grew its position in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in MongoDB during the fourth quarter worth about $28,000. Huntington National Bank grew its position in MongoDB by 110.9% during the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after buying an additional 51 shares in the last quarter. International Assets Investment Management LLC purchased a new position in MongoDB during the fourth quarter worth about $33,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in MongoDB during the first quarter worth about $34,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MDB. Wall Street Zen lowered MongoDB from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Piper Sandler lifted their price target on MongoDB from $330.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Truist Financial lowered their target price on MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Wedbush boosted their target price on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Citigroup restated a “buy” rating on shares of MongoDB in a research note on Monday, June 8th. Twenty-eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average price target 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.