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

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 6,000 shares of MongoDB stock in a transaction on Monday, June 15th. The shares were sold at an average price of $348.92, for a total value of $2,093,520.00. Following the completion of the sale, the director directly owned 464,896 shares of the company’s stock, valued at $162,211,512.32. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Trading Down 1.5%

Shares of NASDAQ MDB opened at $348.81 on Wednesday. MongoDB, Inc. has a twelve month low of $196.00 and a twelve month high of $444.72. The stock has a fifty day simple moving average of $299.95 and a 200-day simple moving average of $335.21. The stock has a market capitalization of $28.05 billion, a PE ratio of -942.73, a PEG ratio of 1,277.37 and a beta of 1.57.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $1.00 earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. On average, equities analysts predict that MongoDB, Inc. will post 0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $475.00 price objective on shares of MongoDB in a research note on Friday, May 29th. Stifel Nicolaus set a $435.00 price objective on MongoDB in a research note on Friday, May 29th. Mizuho lifted their price objective on MongoDB from $325.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a research note on Monday, June 8th. Finally, Tigress Financial lifted their price objective on MongoDB from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Twenty-eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $396.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MDB. Cornerstone Planning Group LLC lifted its position 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 during the last quarter. Central Pacific Bank Trust Division purchased a new position in MongoDB in the fourth quarter valued at $28,000. Huntington National Bank increased its holdings in MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in MongoDB in the fourth quarter valued at $33,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in MongoDB in the first quarter valued at $34,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.