MongoDB (NASDAQ:MDB) Director Sells $3,539,100.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 10,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $353.91, for a total transaction of $3,539,100.00. Following the sale, the director owned 983,316 shares in the company, valued at approximately $348,005,365.56. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Trading Down 0.6%

Shares of NASDAQ MDB opened at $332.75 on Friday. The firm has a market cap of $26.76 billion, a PE ratio of -899.32, a PEG ratio of 1,207.08 and a beta of 1.57. MongoDB, Inc. has a 1-year low of $196.00 and a 1-year high of $444.72. The company has a fifty day moving average price of $303.12 and a 200 day moving average price of $335.27.

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 the consensus estimate of $1.19 by $0.13. The firm had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Equities research analysts forecast that MongoDB, Inc. will post 0.02 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC raised its stake in shares of MongoDB by 1,220.0% during 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 bought a new position in shares of MongoDB in the fourth quarter valued at $28,000. Huntington National Bank grew its stake in shares of MongoDB by 110.9% in 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 in the last quarter. International Assets Investment Management LLC acquired a new position in MongoDB during the fourth quarter worth $33,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in MongoDB during the first quarter worth $34,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MDB shares. Oppenheimer lifted their target price on MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Piper Sandler raised their price target on shares of MongoDB from $330.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Needham & Company LLC reiterated an “overweight” rating on shares of MongoDB in a report on Friday, May 29th. Zacks Research raised shares of MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Sanford C. Bernstein cut shares of MongoDB from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 3rd. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average 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.