Insider Selling: MongoDB (NASDAQ:MDB) Director Sells $538,782.30 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Hope Cochran sold 1,566 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total value of $538,782.30. Following the completion of the transaction, the director owned 25,444 shares of the company’s stock, valued at $8,754,008.20. This represents a 5.80% decrease in their ownership of the stock. The transaction 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 Trading Down 5.9%

NASDAQ:MDB opened at $302.00 on Thursday. The stock has a market cap of $24.29 billion, a P/E ratio of -816.23, a price-to-earnings-growth ratio of 1,157.60 and a beta of 1.57. The stock’s 50-day moving average is $309.78 and its 200-day moving average is $333.45. MongoDB, Inc. has a 1-year low of $198.47 and a 1-year high of $444.72.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating 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 company had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The firm’s revenue 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, equities analysts forecast that MongoDB, Inc. will post 0.02 EPS for the current year.

Institutional Trading of MongoDB

Several large investors have recently modified their holdings of MDB. Central Pacific Bank Trust Division acquired a new stake in MongoDB in the fourth quarter worth $28,000. Cornerstone Planning Group LLC boosted 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 in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of MongoDB in the 4th quarter valued at about $33,000. Root Financial Partners LLC grew its stake in shares of MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after buying an additional 32 shares during the period. Finally, Global Trust Asset Management LLC bought a new stake in MongoDB in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MDB shares. Canaccord Genuity Group lifted their price target on shares of MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Bank of America increased their price objective on MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 8th. Piper Sandler lifted their target price on MongoDB from $330.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Truist Financial reduced their price target on MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Wedbush upped their price target on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $396.39.

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.