MongoDB (NASDAQ:MDB) Trading Down 7.8% Following Insider Selling

MongoDB, Inc. (NASDAQ:MDB) dropped 7.8% on Wednesday after an insider sold shares in the company. The stock traded as low as $364.37 and last traded at $367.51. Approximately 428,167 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 2,040,400 shares. The stock had previously closed at $398.46.

Specifically, Director Hope F. Cochran sold 1,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the director owned 27,010 shares of the company’s stock, valued at $9,453,500. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several research analysts recently issued reports on MDB shares. Scotiabank reaffirmed an “outperform” rating on shares of MongoDB in a research report on Friday. Mizuho raised their price target on MongoDB from $325.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Piper Sandler boosted their price target on MongoDB from $330.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday. Sanford C. Bernstein downgraded shares of MongoDB from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 3rd. Finally, Stifel Nicolaus set a $435.00 price objective on shares of MongoDB in a research report on Friday. Twenty-eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $394.45.

MongoDB Stock Performance

The company has a 50 day simple moving average of $276.11 and a two-hundred day simple moving average of $333.69. The firm has a market cap of $29.49 billion, a PE ratio of -991.78 and a beta of 1.57.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same period last year, the business posted $1.00 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts predict that MongoDB, Inc. will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in MongoDB by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock valued at $2,788,981,000 after acquiring an additional 431,382 shares during the period. ValueAct Holdings L.P. boosted its holdings in shares of MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after acquiring an additional 1,427,700 shares during the last quarter. State Street Corp increased its stake in shares of MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after acquiring an additional 40,219 shares during the period. Amundi increased its stake in shares of MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after acquiring an additional 563,995 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of MongoDB by 0.7% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.