MongoDB, Inc. (NASDAQ:MDB) Director Sells $811,890.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the sale, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

MongoDB Price Performance

NASDAQ:MDB traded up $9.75 during trading hours on Wednesday, reaching $264.13. 3,624,195 shares of the stock were exchanged, compared to its average volume of 1,607,075. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $428.91. The stock has a market cap of $19.67 billion, a PE ratio of -96.40 and a beta of 1.30. The firm has a 50 day moving average of $263.28 and a 200 day moving average of $275.36.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. Equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Ratings Changes

MDB has been the subject of a number of recent research reports. Loop Capital dropped their target price on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Monday. Mizuho upped their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group raised their price objective on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $361.83.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of MDB. Norges Bank bought a new position in MongoDB in the fourth quarter valued at approximately $189,584,000. Jennison Associates LLC grew its stake in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares in the last quarter. Marshall Wace LLP acquired a new position in MongoDB during the fourth quarter worth $110,356,000. Raymond James Financial Inc. bought a new stake in MongoDB during the fourth quarter worth $90,478,000. Finally, D1 Capital Partners L.P. acquired a new stake in MongoDB in the fourth quarter valued at $76,129,000. 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.