MongoDB, Inc. (NASDAQ:MDB) Director Sells $713,190.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $237.73, for a total value of $713,190.00. Following the transaction, the director now owns 1,117,006 shares of the company’s stock, valued at approximately $265,545,836.38. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

MongoDB Trading Up 1.1 %

MDB stock opened at $248.68 on Thursday. The company has a market capitalization of $18.52 billion, a P/E ratio of -90.76 and a beta of 1.25. The business has a 50 day simple moving average of $283.52 and a 200-day simple moving average of $269.30. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same period last year, the firm posted $0.96 EPS. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts predict that MongoDB, Inc. will post -1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MDB has been the subject of a number of research analyst reports. Monness Crespi & Hardt cut MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price for the company. in a report on Monday, December 16th. Tigress Financial upped their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Finally, Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $367.14.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Quarry LP increased its holdings in shares of 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 purchasing an additional 129 shares during the period. Brooklyn Investment Group acquired a new position in MongoDB in the 3rd quarter valued at $36,000. Continuum Advisory LLC raised its position in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 acquiring an additional 93 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of MongoDB during the third quarter worth about $44,000. 89.29% of the stock is owned by hedge funds and other 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.