MongoDB (NASDAQ:MDB) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of MongoDB, Inc. (NASDAQ:MDB) saw unusually-strong trading volume on Thursday . Approximately 1,003,819 shares were traded during mid-day trading, a decline of 30% from the previous session’s volume of 1,442,082 shares.The stock last traded at $271.09 and had previously closed at $278.39.

Wall Street Analyst Weigh In

Several research firms have commented on MDB. Bank of America upped their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Piper Sandler boosted their price objective on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. DA Davidson lifted their target price on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Sanford C. Bernstein upped their target price on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $337.96.

MongoDB Stock Performance

The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $20.21 billion, a P/E ratio of -98.06 and a beta of 1.15. The company’s 50 day moving average is $270.35 and its 200-day moving average is $285.43.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.63) earnings per share. As a group, equities analysts anticipate that MongoDB, Inc. will post -2.44 EPS for the current year.

Insider Activity

In related news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the completion of the sale, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $290.40, for a total transaction of $290,400.00. Following the sale, the director now owns 1,138,006 shares of the company’s stock, valued at approximately $330,476,942.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $231.00, for a total value of $462,000.00. Following the completion of the transaction, the director now owns 1,140,006 shares in the company, valued at $263,341,386. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,281 shares of company stock worth $6,310,411 over the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently bought and sold shares of the stock. MFA Wealth Advisors LLC purchased a new stake in MongoDB during the 2nd quarter valued at about $25,000. J.Safra Asset Management Corp raised its holdings in shares of MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares in the last quarter. Quarry LP boosted its holdings in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in MongoDB during the 2nd quarter valued at $35,000. Finally, GAMMA Investing LLC lifted its position in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares during the period. 89.29% of the stock is currently owned by institutional investors.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.