MongoDB (NASDAQ:MDB) Director Dwight Merriman Sells 4,000 Shares

Key Points

• Director Dwight Merriman sold 4,000 MongoDB shares on April 16 at an average price of $252.33 for about $1.01M, trimming his stake by 0.83% to 476,896 shares; the transaction was executed under a pre-arranged Rule 10b5-1 plan and disclosed in an SEC filing.
• MongoDB beat quarterly estimates with $1.65 EPS (vs. $1.47 expected) and $695.1M revenue (up 26.8% YoY), but the company remains unprofitable with a negative net margin and analysts expect -1.78 EPS for the current year.
• Several firms have recently cut ratings and price targets on MDB, though the consensus remains a Moderate Buy with a mean target of $360.03, and institutional ownership is high at roughly 89%.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Dwight Merriman sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $252.33, for a total value of $1,009,320.00. Following the completion of the sale, the director directly owned 476,896 shares in the company, valued at approximately $120,335,167.68. The trade was a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Price Performance

MongoDB stock traded up $7.08 during mid-day trading on Thursday, hitting $251.14. 1,488,219 shares of the company were exchanged, compared to its average volume of 1,883,383. The business's 50 day simple moving average is $286.56 and its two-hundred day simple moving average is $342.31. The company has a market capitalization of $20.18 billion, a P/E ratio of -285.39 and a beta of 1.60. MongoDB, Inc. has a 12-month low of $148.88 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million during the quarter, compared to analysts' expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 earnings per share. Equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MDB shares. Sanford C. Bernstein downgraded shares of MongoDB from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 3rd. Piper Sandler decreased their target price on shares of MongoDB from $490.00 to $330.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. Cantor Fitzgerald lowered their target price on shares of MongoDB from $454.00 to $378.00 and set an "overweight" rating for the company in a research note on Tuesday, March 3rd. Zacks Research downgraded MongoDB from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 31st. Finally, Oppenheimer reduced their price target on MongoDB from $425.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 3rd. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $360.03.

Institutional Trading of MongoDB

Several institutional investors have recently made changes to their positions in MDB. Cramer Rosenthal Mcglynn LLC grew its holdings in shares of MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company's stock worth $17,938,000 after acquiring an additional 52,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of MongoDB by 1,277.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company's stock worth $5,655,000 after purchasing an additional 16,896 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of MongoDB by 209.0% during the third quarter. Pacer Advisors Inc. now owns 4,549 shares of the company's stock valued at $1,412,000 after purchasing an additional 3,077 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of MongoDB by 42.1% during the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company's stock valued at $41,910,000 after purchasing an additional 39,978 shares during the last quarter. Finally, Pinegrove Venture Partners LLC acquired a new position in shares of MongoDB in the 3rd quarter valued at $1,032,000. 89.29% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.