--- title: "Microsoft's Copilot now fronts MongoDB's data as insiders sell $66.8 million and buy nothing" description: "The Atlas connector for Microsoft 365 Copilot went generally available on November 3, making MongoDB the plumbing under a competitor's assistant. Revenue is growing 30%, but the interim chief executive sold $15.3 million of stock and no insider has bought in six months, so the discount is not the buy it looks like." publisher: "The Inference" section: "Platforms" published: 2026-11-04T15:26:20.507Z modified: 2026-11-04T15:26:20.507Z canonical: https://theinference.org/article/microsoft-s-copilot-now-fronts-mongodb-s-data-as-insiders-sell-66-8-million-and-buy-nothing language: en keywords: "MongoDB, Microsoft, Copilot, Insider Trading, Databases, AI Agents" --- # Microsoft's Copilot now fronts MongoDB's data as insiders sell $66.8 million and buy nothing > The Atlas connector for Microsoft 365 Copilot went generally available on November 3, making MongoDB the plumbing under a competitor's assistant. Revenue is growing 30%, but the interim chief executive sold $15.3 million of stock and no insider has bought in six months, so the discount is not the buy it looks like. [MongoDB](https://theinference.org/markets/companies/mongodb) put [Microsoft](https://theinference.org/markets/companies/microsoft) 365 Copilot in front of its customers on November 3, and the stock fell the same day [1]. [The Copilot connector is now generally available](https://vinish.dev/mongodb-atlas-microsoft-365-copilot-connector-ga): an employee asks a question in Word, Excel, Teams or Copilot Chat, and Microsoft's assistant answers by querying that customer's live MongoDB Atlas clusters, under the user's own permissions, without copying anything into Microsoft's index [1]. This is more than a product launch. It changes which company the customer talks to, and MongoDB made the change while it has no permanent chief executive and its insiders are selling. ## The assistant is now the interface A database used to be reached through its own drivers, consoles and dashboards, so every path to the data ran through MongoDB's world. The new connector inverts that: Copilot reaches Atlas on demand through a model-context-protocol server that MongoDB hosts, and the person asks in Microsoft's tools [1]. MongoDB did the engineering and keeps control of permissions and governance. But the conversation, the usage habit and [the meter that counts the work](https://theinference.org/article/github-s-agent-pull-requests-beat-human-ones-in-august-near-75-million-a-month-as-microsoft-meters-copilot) now sit on Microsoft's side. MongoDB built the same plumbing for coding agents in August, when it [launched a hosted MCP server connecting Atlas to Claude Code](https://www.infoworld.com/article/4210798/mongodb-unveils-mongodb-atlas-managed-mcp-server.html), Codex and Devin [6], so Atlas is becoming infrastructure beneath several assistants. That is the position of a supplier, and no pricing has been published for Copilot-driven queries; customers are told to contact their account team [1]. ## The discount comes with selling, not buying The bull case is intact: revenue grew 30% year over year last quarter, [guidance was raised](https://theinference.org/article/mongodb-raised-its-growth-targets-on-an-engine-it-does-not-own), and the stock trades below a $395 median analyst target [3]. *Chart: **Revenue growth reaccelerated into the connector launch: 30.5% year over year in the July quarter** Line chart of MongoDB quarterly revenue from Q1 fiscal 2024 to Q2 fiscal 2026, rising from $450.6 million to $771.8 million* *MongoDB's quarterly revenue, millions of US dollars, Q1 '24 (quarter ended April 2024) through Q2 '26 (quarter ended July 2026). Year-over-year growth was 22.3% in Q1 '24 and 30.5% in Q2 '26, the fastest in the series. Source: MongoDB, quarterly figures from its SEC filings, retrieved 4 November 2026. [8]* Two facts argue against treating the gap as a discount. Chief executive Chirantan "CJ" Desai [stepped down effective immediately on September 28](https://finance.yahoo.com/markets/stocks/articles/mongodb-announces-ceo-transition-123000750.html) to take a senior role at [Meta](https://theinference.org/markets/companies/meta), and founder [Dev Ittycheria](https://theinference.org/markets/people/dev-ittycheria) returned on an interim basis while the board searches [2]. Five weeks on, the seat is still open. ## Ninety-nine sales, zero buys And insiders have [sold 99 times in six months with zero purchases](https://www.quiverquant.com/news/MongoDB+Slides+as+Leadership+Overhang+and+Tech+Selloff+Weigh+on+Shares), roughly $66.8 million in total, led by director Dwight Merriman [3]. Ittycheria himself sold $15.3 million of stock, which an October filing paired with a one-time cash bonus and share grant, alongside a retention award for the chief financial officer [3]. *Chart: **MongoDB's insiders sold 99 times in six months and bought nothing** Bar chart of six-month open-market insider sales of MongoDB stock by seller: Dwight Merriman about $28.2 million, Roelof Botha about $17.5 million, Dev Ittycheria about $15.3 million, Michael Berry about $3.5 million, Hope Cochran about $1.6 million, others about $0.6 million.* *Six-month open-market insider sales of MongoDB stock by seller, October 2026, millions of US dollars, rounded. Source: Quiver Quantitative insider trading data. [3]* The record is the answer to the governance-discount argument. A growth rate is worth buying at a discount when the people selling the story are also selling the stock, they are not, and the one executive who chose to come back monetized the choice on the way in. ## What would change the call Three things, in order of weight: a permanent chief executive, a single insider purchase, and a published price for Copilot-driven queries. The first restores control, the second signals insiders see value at these levels, and the third tells us whether Atlas queries routed through Microsoft's assistant are billed as MongoDB revenue or absorbed into someone else's subscription. Until then, MongoDB owns the plumbing and Microsoft owns the conversation, and at [roughly $28 billion of market value](https://pluang.com/en/news-feed/mongodb-fundamental-membaik-peluang-dari-arus-balik-ai) the shares price in a company that still owns both [7]. The question for any reader of this story is not whether Atlas data is valuable. It is who bills for the answer. ## Takeaway MongoDB owns the plumbing and Microsoft owns the conversation: until a permanent chief executive, one insider purchase or a published price for Copilot-driven queries shows up, the discount is not the buy it looks like. ## Sources 1. [Vinish.Dev, MongoDB Atlas Connector for Microsoft 365 Copilot Is Now Generally Available, 4 November 2026](https://vinish.dev/mongodb-atlas-microsoft-365-copilot-connector-ga) 2. [PR Newswire via Yahoo Finance, MongoDB Announces CEO Transition, 28 September 2026](https://finance.yahoo.com/markets/stocks/articles/mongodb-announces-ceo-transition-123000750.html) 3. [Quiver Quantitative, MongoDB Slides as Leadership Overhang and Tech Selloff Weigh on Shares, 30 October 2026](https://www.quiverquant.com/news/MongoDB+Slides+as+Leadership+Overhang+and+Tech+Selloff+Weigh+on+Shares) 6. [InfoWorld, MongoDB unveils MongoDB Atlas Managed MCP Server, 17 August 2026](https://www.infoworld.com/article/4210798/mongodb-unveils-mongodb-atlas-managed-mcp-server.html) 7. [Pluang, MongoDB gains AI traction despite CEO exit, valuation appeal noted, 3 November 2026](https://pluang.com/en/news-feed/mongodb-fundamental-membaik-peluang-dari-arus-balik-ai) 8. [MongoDB, quarterly figures from its SEC filings, retrieved 4 November 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001441816) --- Microsoft's Copilot now fronts MongoDB's data as insiders sell $66.8 million and buy nothing — The Inference. Canonical: https://theinference.org/article/microsoft-s-copilot-now-fronts-mongodb-s-data-as-insiders-sell-66-8-million-and-buy-nothing