Insider Selling: MongoDB (NASDAQ:MDB) Director Sells $216,490.75 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Charles Hazard, Jr. sold 595 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $363.85, for a total value of $216,490.75. Following the completion of the sale, the director owned 45,237 shares of the company’s stock, valued at $16,459,482.45. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Price Performance

MongoDB stock traded up $8.32 during trading on Thursday, reaching $371.35. 1,839,224 shares of the company were exchanged, compared to its average volume of 2,028,881. MongoDB, Inc. has a 52-week low of $215.68 and a 52-week high of $473.10. The company has a market capitalization of $29.92 billion, a P/E ratio of 523.03, a PEG ratio of 38.75 and a beta of 1.74. The stock’s 50 day simple moving average is $393.92 and its two-hundred day simple moving average is $335.56.

MongoDB (NASDAQ:MDB) last issued its earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.28. MongoDB had a return on equity of 1.06% and a net margin of 2.12%.The company had revenue of $771.77 million during the quarter, compared to analysts’ expectations of $735.01 million. During the same period in the prior year, the business earned $1.00 EPS. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. As a group, equities analysts forecast that MongoDB, Inc. will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its holdings in shares of MongoDB by 21.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,336,397 shares of the company’s stock worth $560,872,000 after acquiring an additional 239,338 shares during the last quarter. Fred Alger Management LLC increased its holdings in MongoDB by 7.3% in the 4th quarter. Fred Alger Management LLC now owns 561,614 shares of the company’s stock valued at $235,704,000 after purchasing an additional 38,225 shares during the last quarter. Bank of America Corp DE increased its holdings in MongoDB by 0.3% in the 1st quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock valued at $135,922,000 after purchasing an additional 1,852 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in MongoDB by 55.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 549,970 shares of the company’s stock valued at $134,616,000 after purchasing an additional 195,250 shares during the period. Finally, Employees Provident Fund Board purchased a new stake in MongoDB in the fourth quarter valued at approximately $203,365,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Canaccord Genuity Group lifted their target price on shares of MongoDB from $400.00 to $480.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. BMO Capital Markets dropped their price target on shares of MongoDB from $450.00 to $420.00 and set an “outperform” rating for the company in a research note on Wednesday, September 30th. Wells Fargo & Company raised their price target on shares of MongoDB from $375.00 to $475.00 and gave the stock an “overweight” rating in a report on Tuesday, August 25th. The Goldman Sachs Group lifted their price target on shares of MongoDB from $453.00 to $520.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $540.00 price objective on shares of MongoDB in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $462.91.

About MongoDB

MongoDB, Inc develops and provides a general-purpose, document-oriented database platform. Its technology is designed to help organizations store, manage and analyze structured and unstructured data for applications such as artificial intelligence, analytics, mobile services, e-commerce and enterprise software.

The company’s principal offering is MongoDB Atlas, a fully managed cloud database service available across major cloud infrastructure providers. MongoDB also offers Enterprise Advanced, which provides commercial database software, security, operational controls and support for organizations running databases in their own environments or across hybrid and multicloud infrastructures.