Key Points
- MongoDB director Dwight Merriman sold 2,000 shares on May 7 at an average price of $290.06, a transaction worth about $580,120. The sale was made under a pre-arranged Rule 10b5-1 plan.
- The stock was down 1.6% in trading and opened at $294.65. MongoDB remains a large-cap software company with a market value of about $23.68 billion.
- MongoDB’s latest quarterly results beat expectations, with EPS of $1.65 versus the $1.47 consensus and revenue of $695.07 million, up 26.8% year over year. Analysts currently rate the stock a Moderate Buy with a consensus target price of $361.97.
MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Dwight Merriman sold 2,000 shares of MongoDB stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $290.06, for a total value of $580,120.00. Following the sale, the director owned 1,003,316 shares of the company's stock, valued at approximately $291,021,838.96. This trade represents a 0.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MongoDB Trading Down 1.6%
MDB opened at $294.65 on Tuesday. The stock has a 50-day moving average price of $260.97 and a 200-day moving average price of $336.46. MongoDB, Inc. has a 12-month low of $182.43 and a 12-month high of $444.72. The stock has a market capitalization of $23.68 billion, a P/E ratio of -334.83 and a beta of 1.48.
MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm had revenue of $695.07 million during the quarter, compared to analysts' expectations of $669.40 million. During the same period in the prior year, the business earned $1.28 EPS. The company's revenue for the quarter was up 26.8% compared to the same quarter last year. On average, equities research analysts predict that MongoDB, Inc. will post -0.46 EPS for the current year.
Institutional Trading of MongoDB
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in MongoDB by 5.0% in the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company's stock valued at $2,788,981,000 after purchasing an additional 431,382 shares during the last quarter. ValueAct Holdings L.P. lifted its position in 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 purchasing an additional 1,427,700 shares during the last quarter. State Street Corp lifted its position in MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company's stock valued at $754,119,000 after purchasing an additional 40,219 shares during the last quarter. Amundi lifted its position in MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company's stock valued at $477,550,000 after purchasing an additional 563,995 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in MongoDB by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company's stock valued at $604,429,000 after purchasing an additional 9,693 shares during the last quarter. Institutional investors own 89.29% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on MDB. Stifel Nicolaus cut their price objective on MongoDB from $450.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Wedbush cut their price objective on MongoDB from $440.00 to $380.00 and set an "outperform" rating for the company in a report on Tuesday, March 3rd. Sanford C. Bernstein cut MongoDB from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 3rd. Zacks Research cut MongoDB from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 31st. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $340.00 price objective (down from $400.00) on shares of MongoDB in a report on Tuesday, March 3rd. Twenty-six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $361.97.
Read Our Latest Research Report on MongoDB
MongoDB Company Profile
(
Get Free Report)
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.
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