S&P 500 falls as traders turn sour on tech
Director Charles M. Hazard Jr. of MongoDB, Inc. (NASDAQ:MDB) sold a total of 999 shares of common stock on November 3, 2025, at a price of $383.72, near the company’s 52-week high of $385.44. The stock has since retreated to $350.28, after posting impressive year-to-date gains of 52.85%.
The sales, executed under a pre-arranged Rule 10b5-1 trading plan, amounted to $383,336. Hazard directly sold 833 shares, and indirectly sold 166 shares held by The Narragansett Bay Childrens Trust, for which Hazard serves as trustee. Following the transactions, Hazard directly owns 45,700 shares and indirectly owns 14,161 shares through the trust.The timing of the sale is notable as InvestingPro analysis indicates MongoDB appears overvalued at current levels, despite maintaining a "GOOD" overall financial health rating. With MongoDB’s next earnings report scheduled for December 15, 2025, investors can access comprehensive valuation metrics and the detailed Pro Research Report covering this $28.5 billion database company on InvestingPro.
In other recent news, MongoDB has announced a significant leadership transition as President and CEO Dev Ittycheria plans to retire from his full-time operating role, effective November 10, 2025. Chirantan "CJ" Desai will take over as the new President and CEO, having previously served as president of Product and Engineering at Cloudflare and COO at ServiceNow. This leadership change has prompted several financial firms to adjust their outlook on MongoDB. DA Davidson and BMO Capital have both raised their price targets for MongoDB to $415, maintaining a Buy and Outperform rating, respectively. RBC Capital also increased its price target to $405, with an Outperform rating, while Citizens raised its target to $435, maintaining a Market Outperform rating. The adjustments in price targets reflect confidence in the upcoming leadership and the company’s strategic direction. MongoDB is also preparing to release its third-quarter fiscal 2026 earnings report on December 1st, with an earnings call scheduled for 5:00 PM EST. These developments mark a pivotal moment for MongoDB as it navigates its executive transition and upcoming financial disclosures.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.