Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells 885 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 885 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the transaction, the director now directly owns 83,845 shares of the company’s stock, valued at $24,486,932.25. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

MongoDB Trading Down 5.8 %

MDB stock opened at $273.26 on Friday. The firm has a 50-day moving average of $261.71 and a two-hundred day moving average of $273.96. The firm has a market capitalization of $20.35 billion, a PE ratio of -99.73 and a beta of 1.28. MongoDB, Inc. has a one year low of $212.74 and a one year high of $459.70.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. On average, equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDB shares. Canaccord Genuity Group lifted their price target on MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Cantor Fitzgerald assumed coverage on MongoDB in a research report on Friday, January 17th. They set an “overweight” rating and a $344.00 price target for the company. Loop Capital increased their price target on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Piper Sandler restated an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research note on Tuesday, December 10th. Finally, Morgan Stanley increased their target price on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. B.O.S.S. Retirement Advisors LLC acquired a new stake in MongoDB during the 4th quarter worth about $606,000. Aigen Investment Management LP purchased a new stake in shares of MongoDB in the third quarter worth approximately $1,045,000. Geode Capital Management LLC boosted its holdings in shares of MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in MongoDB during the third quarter valued at approximately $4,366,000. Finally, Charles Schwab Investment Management Inc. grew its position in MongoDB by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after purchasing an additional 7,575 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

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.