MongoDB (NASDAQ:MDB) Director Dwight Merriman Sells 2,000 Shares

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $290.06, for a total value of $580,120.00. Following the transaction, the director directly owned 1,003,316 shares in the company, valued at approximately $291,021,838.96. The trade was a 0.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Stock Performance

Shares of MDB stock traded down $4.82 during mid-day trading on Monday, hitting $294.65. 1,441,240 shares of the stock were exchanged, compared to its average volume of 1,821,013. The stock’s fifty day simple moving average is $262.12 and its two-hundred day simple moving average is $336.87. The stock has a market capitalization of $23.68 billion, a price-to-earnings ratio of -334.83 and a beta of 1.48. MongoDB, Inc. has a 12-month low of $182.43 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. During the same quarter last year, the company posted $1.28 earnings per share. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. On average, research analysts expect that MongoDB, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of MongoDB

Several institutional investors have recently made changes to their positions in MDB. ValueAct Holdings L.P. grew its stake in shares of MongoDB by 206.8% during the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after buying an additional 1,427,700 shares during the period. Norges Bank purchased a new stake in shares of MongoDB during the 4th quarter valued at $574,821,000. AQR Capital Management LLC grew its stake in shares of MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after buying an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. grew its stake in shares of MongoDB by 162.1% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after buying an additional 852,540 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of MongoDB by 162.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after buying an additional 678,746 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein downgraded shares of MongoDB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 3rd. Monness Crespi & Hardt reduced their price target on shares of MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. UBS Group reduced their price target on shares of MongoDB from $440.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 price target (down from $400.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Finally, Zacks Research cut shares of MongoDB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st. Twenty-six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $361.97.

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.