MongoDB (NASDAQ:MDB) Director Dev Ittycheria Sells 40,000 Shares

MongoDB, Inc. (NASDAQ:MDB) Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the transaction, the director owned 161,762 shares of the company’s stock, valued at $61,980,727.92. The trade was a 19.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

MongoDB Stock Up 0.5%

MDB opened at $352.56 on Tuesday. The company has a market capitalization of $28.36 billion, a price-to-earnings ratio of -952.86, a PEG ratio of 1,505.91 and a beta of 1.57. The firm has a 50-day moving average price of $287.60 and a 200-day moving average price of $334.42. MongoDB, Inc. has a twelve month low of $196.00 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping 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 company’s revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the company 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. On average, sell-side analysts expect that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of MDB. ValueAct Holdings L.P. boosted its position in shares of MongoDB by 206.8% in the third 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 period. Norges Bank bought a new stake in MongoDB during the fourth quarter valued at approximately $574,821,000. AQR Capital Management LLC lifted its position in MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its position in MongoDB by 162.1% during the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after purchasing an additional 852,540 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in MongoDB by 162.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after purchasing an additional 678,746 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MDB shares. Stifel Nicolaus set a $435.00 target price on shares of MongoDB in a research note on Friday, May 29th. UBS Group lifted their target price on shares of MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Zacks Research upgraded shares of MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Truist Financial cut their price objective on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Sanford C. Bernstein lowered shares of MongoDB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 3rd. Twenty-eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.