MongoDB Co-Founder and Executive Sell Shares Worth 30 Billion Won

Dwight A. Merriman, co-founder of MongoDB, Inc. (NASDAQ: MDB), sold a portion of his stake in the open market under a Rule 10b5-1 trading plan dated May 14, generating approximately $3.3 million (about KRW 4.5 billion), and still directly holds over 900,000 shares. On May 18, shares held in a trust for his children were partially sold, raising roughly $1.9 million (around KRW 2.5 billion), while his charitable foundation’s holdings remained unchanged. On June 2, board member Roelof Botha disposed of about $17.5 million (approximately KRW 24 billion) of shares for estate-planning purposes, though he continues to hold a significant indirect position, according to SEC filings.

On May 28, MongoDB reported fiscal 2027 first-quarter results that beat market expectations on both revenue and earnings, emphasizing strong growth in its Atlas cloud service and improved margins. Since the earnings release, the stock has rallied from late May into early June, supported by analyst price-target increases and investor conference appearances. (wtop.com)

Headquartered in New York, MongoDB, Inc. is a database-software company centered on its NoSQL database, MongoDB, for unstructured data, and its cloud-based platform, Atlas. For the fiscal year ended January 2026, the company generated mid-$2 billion in revenue and delivered growth in the high-20% range, citing the proliferation of AI and cloud workloads as key growth drivers. (en.wikipedia.org)