MongoDB (NASDAQ:MDB) Shares Down 4.8% – Here’s What Happened

MongoDB, Inc. (NASDAQ:MDB) was down 4.8% during trading on Wednesday . The stock traded as low as $241.08 and last traded at $241.6370. Approximately 811,542 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,945,165 shares. The stock had previously closed at $253.76.

Key Headlines Impacting MongoDB

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: New CRO — MongoDB named Ryan Mac Ban as Chief Revenue Officer to lead global sales and bolster AI and multi-cloud go-to-market execution; management says this supports the next phase of growth. MongoDB Appoints Ryan Mac Ban as Chief Revenue Officer
• Positive Sentiment: Analyst upgrade — Mizuho upgraded MongoDB, which can provide short-term support by signaling institutional confidence in the company’s AI/multi-cloud positioning. Mizuho upgrades MongoDB
• Neutral Sentiment: Short-interest data appears inconsistent — multiple reports show a large “increase” in short interest but list 0 shares and NaN changes, suggesting a data or reporting error; unlikely to be a clear driver until corrected.
• Negative Sentiment: Atlas growth outlook shows softer momentum — Zacks highlights MongoDB’s Atlas consumption outlook as more cautious, with moderation in consumption trends and continued enterprise spending caution; this raises near-term growth concerns. MDB’s Atlas Outlook Reflects Caution
• Negative Sentiment: AI platform risk from Anthropic product news — reporting links the selloff to Anthropic’s Claude gaining the ability to control computers (imitating keystrokes/mouse), stoking investor concern that enterprise value could shift from the application/database layer to an “intelligence” layer of autonomous agents, potentially displacing legacy software vendors. Why MongoDB (MDB) Stock Is Falling Today

Analysts Set New Price Targets

MDB has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on MongoDB from $490.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Citigroup reduced their price target on MongoDB from $435.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Monness Crespi & Hardt lowered their price objective on MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Morgan Stanley upped their target price on shares of MongoDB from $400.00 to $440.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Finally, The Goldman Sachs Group lowered their price target on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $355.24.

MongoDB Trading Down 3.1%

The stock has a market capitalization of $19.76 billion, a PE ratio of -279.33 and a beta of 1.40. The stock has a 50 day moving average price of $332.43 and a 200-day moving average price of $351.57.

MongoDB (NASDAQ:MDB) last announced 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. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. During the same period in the previous year, the business posted $1.28 earnings per share. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the completion of the transaction, the director directly owned 1,031,316 shares of the company’s stock, valued at approximately $420,467,533.20. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 19,383 shares of company stock valued at $7,910,983. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several institutional investors have recently bought and sold shares of MDB. Cramer Rosenthal Mcglynn LLC grew its position in MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock valued at $17,938,000 after acquiring an additional 52,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 last quarter. Pacer Advisors Inc. boosted its stake 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 period. Penserra Capital Management LLC grew its holdings in shares of MongoDB by 42.1% in the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock worth $41,910,000 after purchasing an additional 39,978 shares during the last quarter. Finally, Pinegrove Venture Partners LLC bought a new position in shares of MongoDB in the third quarter worth about $1,032,000. Institutional investors 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.