Dwight Merriman Sells 10,000 Shares of MongoDB (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 10,000 shares of MongoDB stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $353.91, for a total transaction of $3,539,100.00. Following the sale, the director owned 983,316 shares in the company, valued at approximately $348,005,365.56. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Price Performance

NASDAQ:MDB opened at $334.69 on Thursday. The firm’s 50 day simple moving average is $301.54 and its 200 day simple moving average is $335.27. MongoDB, Inc. has a one year low of $196.00 and a one year high of $444.72. The company has a market cap of $26.92 billion, a PE ratio of -904.57, a P/E/G ratio of 1,258.00 and a beta of 1.57.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same period last year, the company 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. Equities research analysts expect that MongoDB, Inc. will post 0.02 EPS for the current year.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of MDB. Integrated Wealth Concepts LLC increased its position in shares of MongoDB by 31.6% during the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after buying an additional 327 shares during the period. NewEdge Advisors LLC increased its position in shares of MongoDB by 55.0% during the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after buying an additional 1,504 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of MongoDB during the second quarter valued at about $329,000. Cresset Asset Management LLC increased its position in shares of MongoDB by 13.4% during the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock valued at $659,000 after buying an additional 370 shares during the period. Finally, Cerity Partners LLC increased its position in shares of MongoDB by 28.3% during 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 period. 89.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on MDB shares. Cantor Fitzgerald raised their price target on shares of MongoDB from $378.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wall Street Zen lowered shares of MongoDB from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Bank of America raised their price target on shares of MongoDB from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Barclays lifted their price objective on shares of MongoDB from $370.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group lowered their price objective on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Twenty-eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $396.39.

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.