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Dwight Merriman, a director at MongoDB , Inc. (NASDAQ:MDB), recently reported a sale of company shares, according to a filing with the Securities and Exchange Commission. On February 18, Merriman sold 885 shares of MongoDB’s Class A common stock at an average price of $292.05 per share, totaling approximately $258,464. The transaction occurs as MongoDB trades near InvestingPro’s Fair Value estimate, with the stock showing strong momentum, up nearly 27% year-to-date. Following this transaction, Merriman holds 83,845 shares indirectly through the Dwight A. Merriman Charitable Foundation, which he is deemed to have voting and investment power over, although he has no pecuniary interest in the shares. Additionally, Merriman directly owns 1,112,006 shares and holds 520,896 shares in a trust for the benefit of his children. With analysts maintaining a bullish consensus and targets ranging from $180 to $520, this transaction was executed under a Rule 10b5-1 trading plan. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access the detailed MongoDB research report, part of our coverage of 1,400+ US stocks.
In other recent news, MongoDB has seen several significant developments. Cantor Fitzgerald initiated coverage on the company with an Overweight rating and a price target of $344, noting MongoDB’s cloud-native Atlas (NYSE:ATCO) product accounted for 71% of its total revenue in the third quarter of fiscal year 2025. Guggenheim upgraded MongoDB’s stock from Neutral to Buy, setting a price target of $300, citing stable Atlas consumption trends and strategic investments in Enterprise Advanced. Additionally, RBC Capital Markets maintained its Outperform rating for MongoDB, with a $400 price target, emphasizing that concerns over competition from PostgreSQL are overstated.
In leadership changes, MongoDB appointed Srdjan Tanjga as Interim Chief Financial Officer, following the departure of Michael Gordon. Tanjga has been with the company since 2019 and brings experience from his previous roles at the Carlyle Group (NASDAQ:CG) and Harvard Management Company. Furthermore, MongoDB’s collaboration with Swiss bank Lombard Odier has led to a significant modernization of the bank’s systems using generative AI, achieving faster code migration and application updates. This partnership highlights MongoDB’s role in enhancing banking technology and supporting Lombard Odier’s GX Program.
These recent developments underscore MongoDB’s ongoing efforts to navigate competitive pressures and strengthen its market position.
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