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

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 6,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $314.98, for a total value of $1,889,880.00. Following the completion of the transaction, the director directly owned 470,896 shares in the company, valued at approximately $148,322,822.08. This represents a 1.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Price Performance

Shares of MDB traded up $17.84 during mid-day trading on Monday, hitting $330.00. The stock had a trading volume of 2,685,051 shares, compared to its average volume of 1,825,074. The firm has a market cap of $26.52 billion, a P/E ratio of -375.00 and a beta of 1.48. The business has a fifty day moving average price of $262.43 and a 200-day moving average price of $335.74. MongoDB, Inc. has a 52 week low of $182.43 and a 52 week high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to analyst estimates 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 was up 26.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. As a group, research analysts expect that MongoDB, Inc. will post -0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MDB has been the topic of a number of research analyst reports. Truist Financial decreased their target price on MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Cantor Fitzgerald dropped their target price on MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings cut MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Mizuho upgraded MongoDB from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $290.00 to $325.00 in a report on Monday, March 23rd. Finally, Scotiabank upgraded MongoDB from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $275.00 to $310.00 in a report on Thursday, March 5th. Twenty-six equities 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $364.23.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in MongoDB by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock valued at $2,788,981,000 after purchasing an additional 431,382 shares during the last quarter. ValueAct Holdings L.P. lifted its position in MongoDB by 206.8% during the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. State Street Corp lifted its position in MongoDB by 2.3% during the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after purchasing an additional 40,219 shares in the last quarter. Amundi lifted its position in MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after purchasing an additional 563,995 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in MongoDB by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after acquiring an additional 9,693 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.