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

Key Points

• MongoDB director Dwight Merriman sold 6,000 shares for approximately $2.71 million at an average price of $451.75. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his stake by 1.31% to 452,896 shares.
• MongoDB shares fell 0.9% to $434.62, despite the company recently exceeding quarterly earnings and revenue expectations. Revenue increased 25.2% year over year, although MongoDB continued to report a negative net margin.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $418.26; institutional investors own approximately 89.29% of the company’s stock.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Dwight Merriman sold 6,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $451.75, for a total transaction of $2,710,500.00. Following the transaction, the director directly owned 452,896 shares in the company, valued at approximately $204,595,768. This represents a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Stock Down 0.9%

Shares of NASDAQ:MDB traded down $4.08 during midday trading on Tuesday, hitting $434.62. 1,119,103 shares of the stock traded hands, compared to its average volume of 1,884,776. MongoDB, Inc. has a one year low of $206.92 and a one year high of $473.10. The business's 50 day moving average is $350.20 and its two-hundred day moving average is $317.12. The stock has a market capitalization of $34.96 billion, a PE ratio of -1,174.65, a P/E/G ratio of 3,270.10 and a beta of 1.55.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.13. The company had revenue of $687.62 million for the quarter, compared to analysts' expectations of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The firm's revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm 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. As a group, sell-side analysts forecast that MongoDB, Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on MDB shares. Wedbush upped their target price on shares of MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Truist Financial raised their price objective on MongoDB from $375.00 to $400.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Morgan Stanley lifted their target price on shares of MongoDB from $335.00 to $380.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. Stifel Nicolaus set a $475.00 target price on shares of MongoDB in a report on Tuesday. Finally, DA Davidson reiterated a "buy" rating and set a $375.00 price target on shares of MongoDB in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and a consensus price target of $418.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. lifted its stake in MongoDB by 115.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company's stock valued at $148,872,000 after buying an additional 189,820 shares during the last quarter. Fiera Capital Corp raised its position in shares of MongoDB by 33.6% during the 4th quarter. Fiera Capital Corp now owns 183,035 shares of the company's stock worth $76,818,000 after purchasing an additional 46,051 shares during the last quarter. M&T Bank Corp raised its holdings in shares of MongoDB by 12,467.7% in the fourth quarter. M&T Bank Corp now owns 323,744 shares of the company's stock worth $135,872,000 after acquiring an additional 321,168 shares during the last quarter. Exane Asset Management lifted its holdings in MongoDB by 35,742.7% in the 4th quarter. Exane Asset Management now owns 26,882 shares of the company's stock valued at $11,282,000 after purchasing an additional 26,807 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in MongoDB by 36.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,858 shares of the company's stock worth $10,433,000 after acquiring an additional 6,639 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

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.

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