U.S. Database Company Co-Founders Sell Shares Worth Billions

Co-founder Dwight A. Merriman and board member Roelof Botha of U.S.-listed database company MongoDB, Inc. (NASDAQ: MDB) have sold portions of their holdings in recent weeks under pre-established Rule 10b5-1 trading plans.

Merriman sold several tens of thousands of shares in his own name and through family trusts on May 14 and 18, as well as on June 12 and 15, raising approximately $11 million (about KRW 14 billion). Even after these transactions, he continues to hold a substantial stake—around 980,000 direct shares plus additional trust-held equity.

Botha, via an estate-planning entity, sold roughly 40,000 shares on June 2, netting about $17.5 million (approximately KRW 23 billion). His indirect holdings fell from 193,920 shares to 150,550 shares, indicating he did not fully divest.

In its fiscal 2027 first-quarter results, MongoDB reported revenue of about $688 million, beating market expectations, raised its full-year guidance, and expanded its share-repurchase program by $1 billion. Following the announcement, Bank of America and UBS raised their price targets to $390 and $350, respectively. (stockanalysis.com)

MongoDB, headquartered in New York, provides document database services and the MongoDB Atlas cloud platform to enterprise clients worldwide. In fiscal 2026, the company generated approximately $2.46 billion in annual revenue (around KRW 3.2 trillion). Co-founder Merriman, a key figure in product development since the company’s inception, remains significantly invested through direct and trust-held shares, underscoring his long-term alignment with shareholders. (stockanalysis.com)