MongoDB (NASDAQ:MDB) Trading Down 7.8% Following Insider Selling

MongoDB, Inc. (NASDAQ:MDB)’s stock price fell 7.8% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $364.37 and last traded at $367.51. 428,167 shares were traded during mid-day trading, a decline of 79% from the average session volume of 2,040,400 shares. The stock had previously closed at $398.46.

Specifically, Director Hope F. Cochran sold 1,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 27,010 shares in the company, valued at $9,453,500. The trade was a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BMO Capital Markets lifted their target price on MongoDB from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Barclays raised their price target on shares of MongoDB from $370.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Monness Crespi & Hardt lifted their price objective on shares of MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a report on Friday, May 29th. Canaccord Genuity Group boosted their price objective on shares of MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings downgraded shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. Twenty-eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $394.45.

MongoDB Stock Performance

The company has a market capitalization of $29.49 billion, a P/E ratio of -991.78 and a beta of 1.57. The company’s fifty day simple moving average is $276.11 and its 200-day simple moving average is $333.69.

MongoDB (NASDAQ:MDB) last posted its quarterly 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. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s quarterly 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. On average, sell-side analysts predict that MongoDB, Inc. will post -0.42 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. Cramer Rosenthal Mcglynn LLC grew its position in shares of MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock worth $17,938,000 after buying an additional 52,002 shares during the last quarter. Penserra Capital Management LLC lifted its position in MongoDB by 42.1% during the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock valued at $41,910,000 after acquiring an additional 39,978 shares during the last quarter. Kinetic Partners Management LP lifted its position in MongoDB by 27.2% during the third quarter. Kinetic Partners Management LP now owns 195,769 shares of the company’s stock valued at $60,763,000 after acquiring an additional 41,810 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in MongoDB by 115.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company’s stock valued at $148,872,000 after acquiring an additional 189,820 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in MongoDB by 5.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 28,936 shares of the company’s stock valued at $8,981,000 after acquiring an additional 1,415 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

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.