MongoDB (NASDAQ:MDB) Director Dwight Merriman Sells 2,000 Shares

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $290.06, for a total value of $580,120.00. Following the completion of the sale, the director owned 1,003,316 shares of the company’s stock, valued at $291,021,838.96. This trade represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Price Performance

MDB traded down $4.82 during trading hours on Monday, reaching $294.65. The company’s stock had a trading volume of 1,441,240 shares, compared to its average volume of 1,821,013. MongoDB, Inc. has a fifty-two week low of $182.43 and a fifty-two week high of $444.72. The stock has a market cap of $23.68 billion, a PE ratio of -334.83 and a beta of 1.48. The business’s 50-day moving average is $262.12 and its 200-day moving average is $336.87.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same period in the prior year, the firm posted $1.28 earnings per share. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. Analysts expect that MongoDB, Inc. will post -0.46 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on MDB shares. Zacks Research cut MongoDB from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. UBS Group decreased their price objective on MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Monness Crespi & Hardt decreased their price objective on MongoDB from $475.00 to $370.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. The Goldman Sachs Group decreased their price objective on MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Finally, Mizuho upgraded MongoDB from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $290.00 to $325.00 in a report on Monday, March 23rd. Twenty-six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.97.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its stake in shares of MongoDB by 31.6% in the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after acquiring an additional 327 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of MongoDB by 55.0% in the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after acquiring an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of MongoDB in the second quarter valued at $329,000. Cresset Asset Management LLC raised its stake in shares of MongoDB by 13.4% in the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock valued at $659,000 after acquiring an additional 370 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in MongoDB by 28.3% in the second quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock valued at $2,565,000 after buying an additional 2,697 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.