Dwight A. Merriman Sells 922 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 922 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $279.09, for a total value of $257,320.98. Following the completion of the sale, the director now owns 84,730 shares of the company’s stock, valued at $23,647,295.70. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

MongoDB Stock Down 0.1 %

Shares of MDB stock opened at $286.12 on Wednesday. The stock has a 50-day simple moving average of $266.30 and a 200 day simple moving average of $271.04. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The stock has a market capitalization of $21.31 billion, a P/E ratio of -104.42 and a beta of 1.28.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MDB. Jennison Associates LLC boosted its stake in MongoDB by 23.6% during 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. Raymond James Financial Inc. acquired a new position in shares of MongoDB in the 4th quarter valued at $90,478,000. Amundi boosted its position in shares of MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after purchasing an additional 321,186 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of MongoDB by 11,057.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after purchasing an additional 294,228 shares during the period. Finally, Avala Global LP acquired a new position in shares of MongoDB in the 3rd quarter valued at $47,960,000. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of research analyst reports. Citigroup boosted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Royal Bank of Canada boosted their price target on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Wednesday, December 11th. Mizuho boosted their price target on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Robert W. Baird boosted their price target on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $361.00.

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.