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

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 6,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 452,896 shares of the company’s stock, valued at $204,595,768. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Stock Performance

MongoDB stock opened at $434.62 on Wednesday. The business’s 50-day simple moving average is $352.08 and its 200-day simple moving average is $317.28. The firm has a market capitalization of $34.96 billion, a PE ratio of -1,174.65, a PEG ratio of 3,270.10 and a beta of 1.55. MongoDB, Inc. has a 52 week low of $206.92 and a 52 week high of $473.10.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data 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. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same quarter in the previous year, the firm earned $1.00 EPS. The firm’s revenue was up 25.2% compared to the same quarter last year. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Research analysts forecast that MongoDB, Inc. will post 0.01 earnings per share for the current year.

Institutional Trading of MongoDB

Hedge funds have recently modified their holdings of the company. Cornerstone Planning Group LLC grew its holdings in shares of MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of MongoDB in the fourth quarter valued at $33,000. Root Financial Partners LLC raised its stake in shares of MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares in the last quarter. CX Institutional lifted its position in MongoDB by 94.3% in the second quarter. CX Institutional now owns 103 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Finally, Murphy & Mullick Capital Management Corp lifted its position in MongoDB by 500.0% in the fourth quarter. Murphy & Mullick Capital Management Corp now owns 120 shares of the company’s stock worth $50,000 after purchasing an additional 100 shares during the period. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the subject of several research reports. Mizuho increased their price objective on MongoDB from $325.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Barclays boosted their target price on shares of MongoDB from $370.00 to $387.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Piper Sandler upped their target price on shares of MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Guggenheim increased their price target on shares of MongoDB from $475.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC raised their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $418.26.

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.