MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman Sells 1,000 Shares

Key Points

• Director Dwight A. Merriman sold 1,000 shares of MongoDB stock for a total of $245,000, resulting in a 0.09% decrease in his ownership.
• MongoDB's stock price decreased by 1.4% to $240.88, while the company reported strong quarterly earnings, beating EPS estimates by $0.35.
• Despite mixed analyst ratings, MongoDB has a consensus rating of "Moderate Buy" with a target price averaging $281.31, reflecting investor optimism.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Dwight A. Merriman sold 1,000 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the completion of the sale, the director directly owned 1,104,316 shares of the company's stock, valued at $270,557,420. The trade was a 0.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

MongoDB Stock Performance

Shares of MDB traded down $14.93 during mid-day trading on Friday, reaching $222.96. The company had a trading volume of 1,085,320 shares, compared to its average volume of 2,289,806. The company's 50 day simple moving average is $210.80 and its 200 day simple moving average is $212.59. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The company has a market capitalization of $18.22 billion, a price-to-earnings ratio of -195.34 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. MongoDB's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MDB shares. Wolfe Research started coverage on shares of MongoDB in a research note on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 price target for the company. Piper Sandler upped their price target on shares of MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. Bank of America upped their price target on shares of MongoDB from $215.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Stephens started coverage on shares of MongoDB in a research note on Friday, July 18th. They issued an "equal weight" rating and a $247.00 price target for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MongoDB presently has an average rating of "Moderate Buy" and an average target price of $281.31.

Institutional Trading of MongoDB

Several hedge funds have recently modified their holdings of MDB. Korea Investment CORP grew its position in MongoDB by 20.3% in the 4th quarter. Korea Investment CORP now owns 58,871 shares of the company's stock valued at $13,706,000 after purchasing an additional 9,936 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in MongoDB by 9.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 58,466 shares of the company's stock worth $14,405,000 after acquiring an additional 5,056 shares during the last quarter. NEOS Investment Management LLC boosted its holdings in MongoDB by 6.7% during the 4th quarter. NEOS Investment Management LLC now owns 3,526 shares of the company's stock worth $821,000 after acquiring an additional 222 shares during the last quarter. Norges Bank purchased a new position in MongoDB during the 4th quarter worth $189,584,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in MongoDB by 66.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 43,574 shares of the company's stock worth $10,144,000 after acquiring an additional 17,345 shares during the last quarter. Institutional investors own 89.29% of the company's stock.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.