Dwight Merriman Sells 1,130 Shares of MongoDB (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight Merriman sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $334.25, for a total transaction of $377,702.50. Following the completion of the sale, the director owned 982,953 shares in the company, valued at $328,552,040.25. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MongoDB Stock Down 1.3%

MongoDB stock traded down $4.50 during midday trading on Thursday, hitting $354.88. 1,474,522 shares of the stock were exchanged, compared to its average volume of 1,997,061. The stock has a market capitalization of $28.54 billion, a PE ratio of -959.14, a P/E/G ratio of 1,211.44 and a beta of 1.55. The company has a fifty day simple moving average of $317.50 and a two-hundred day simple moving average of $330.29. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. The firm had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. 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, equities research analysts anticipate that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in shares of MongoDB by 15.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,575 shares of the company’s stock valued at $529,000 after purchasing an additional 215 shares during the period. CX Institutional boosted its position in shares of MongoDB by 94.3% during the second quarter. CX Institutional now owns 103 shares of the company’s stock worth $35,000 after buying an additional 50 shares during the period. Basecamp Wealth Advisors LLC boosted its position in shares of MongoDB by 14.3% during the first quarter. Basecamp Wealth Advisors LLC now owns 287 shares of the company’s stock worth $70,000 after buying an additional 36 shares during the period. Pacer Advisors Inc. grew its holdings in shares of MongoDB by 25.8% during the first quarter. Pacer Advisors Inc. now owns 10,214 shares of the company’s stock worth $2,500,000 after buying an additional 2,096 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in shares of MongoDB by 2.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 2,058 shares of the company’s stock worth $504,000 after buying an additional 51 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Guggenheim reaffirmed a “buy” rating and set a $475.00 price objective on shares of MongoDB in a research note on Friday, May 29th. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Piper Sandler raised their price target on MongoDB from $330.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Needham & Company LLC reiterated an “overweight” rating on shares of MongoDB in a report on Friday, May 29th. Finally, Robert W. Baird lifted their price objective on MongoDB from $260.00 to $335.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Twenty-seven equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.