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

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 6,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $348.92, for a total transaction of $2,093,520.00. Following the completion of the sale, the director directly owned 464,896 shares in the company, valued at approximately $162,211,512.32. This represents a 1.27% decrease in their position. The sale was disclosed in a legal 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 Down 4.0%

MDB stock opened at $334.69 on Thursday. The firm has a market cap of $26.92 billion, a price-to-earnings 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. The company’s fifty day simple moving average is $301.54 and its 200 day simple moving average is $335.27.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 1.12% and a negative return on equity of 1.39%. MongoDB’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Research analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Institutional Trading of MongoDB

A number of institutional investors have recently modified their holdings of the business. Cornerstone Planning Group LLC lifted its stake in MongoDB by 1,220.0% in the 4th 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 purchased a new stake in shares of MongoDB during the 4th quarter valued at $28,000. Huntington National Bank raised its position in shares of MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of MongoDB during the 4th quarter valued at $33,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of MongoDB during the 1st quarter valued at $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 equities research analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. BMO Capital Markets upped their price objective on shares of MongoDB from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a research report on Monday, June 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $385.00 price objective on shares of MongoDB in a research report on Tuesday, May 26th. Finally, Scotiabank reissued an “outperform” rating on shares of MongoDB in a research report on Friday, May 29th. Twenty-eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.