MongoDB (NASDAQ:MDB) Trading Down 5.2% – Time to Sell?

MongoDB, Inc. (NASDAQ:MDB) dropped 5.2% during mid-day trading on Tuesday . The stock traded as low as $306.22 and last traded at $306.4270. Approximately 933,882 shares changed hands during trading, a decline of 52% from the average daily volume of 1,941,489 shares. The stock had previously closed at $323.36.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDB. Weiss Ratings downgraded MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. BMO Capital Markets increased their target price on MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Mizuho raised their price target on MongoDB from $325.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Bank of America lifted their price target on MongoDB from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $405.35.

MongoDB Stock Down 0.9%

The business’s 50-day simple moving average is $337.11 and its 200-day simple moving average is $321.10. The stock has a market cap of $24.53 billion, a PE ratio of -824.24, a PEG ratio of 1,260.86 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data 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 company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $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 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the sale, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $534,945. This trade represents a 76.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $297.99, for a total value of $2,979,900.00. Following the transaction, the director directly owned 993,316 shares in the company, valued at $295,998,234.84. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,746 shares of company stock worth $47,343,538 over the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of MongoDB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ValueAct Holdings L.P. boosted its stake in shares of MongoDB by 206.8% during the 3rd 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 in the last quarter. Norges Bank bought a new position in MongoDB in the fourth quarter worth about $574,821,000. AQR Capital Management LLC lifted its holdings in MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after buying an additional 1,069,969 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in MongoDB by 611.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock worth $300,120,000 after buying an additional 614,559 shares during the period. Finally, Amundi boosted its position in MongoDB by 61.3% during the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after acquiring an additional 563,995 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.