MongoDB (NASDAQ:MDB) Director Sells $15,326,400.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the completion of the sale, the director owned 161,762 shares in the company, valued at $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

MongoDB Stock Performance

MDB stock opened at $348.28 on Thursday. The stock has a market capitalization of $28.01 billion, a price-to-earnings ratio of -941.30, a PEG ratio of 1,227.24 and a beta of 1.57. MongoDB, Inc. has a 1 year low of $196.00 and a 1 year high of $444.72. The stock’s fifty day moving average is $291.95 and its two-hundred day moving average is $334.57.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the business posted $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, analysts predict that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDB. Cantor Fitzgerald raised their price target on MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings lowered MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Scotiabank reissued an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Barclays raised their price target on MongoDB from $370.00 to $387.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $385.00 price target on shares of MongoDB in a report on Tuesday, May 26th. Twenty-eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $396.39.

Hedge Funds Weigh In On MongoDB

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in MongoDB by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after purchasing an additional 431,382 shares in the last quarter. ValueAct Holdings L.P. increased its stake in MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. State Street Corp increased its stake in MongoDB by 2.3% in the 4th quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after purchasing an additional 40,219 shares in the last quarter. Amundi increased its stake in MongoDB by 61.3% in the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in MongoDB by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after purchasing an additional 9,693 shares in the last quarter. Hedge funds and other 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.