MongoDB, Inc. (NASDAQ:MDB) Short Interest Update

MongoDB, Inc. (NASDAQ:MDB) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,040,000 shares, a growth of 84.2% from the February 28th total of 1,650,000 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,160,000 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

MDB has been the subject of several analyst reports. Canaccord Genuity Group dropped their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Robert W. Baird dropped their price objective on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Piper Sandler decreased their target price on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Bank of America dropped their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Barclays cut their price target on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $320.70.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the transaction, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. The trade was a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock valued at $11,328,869 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Hedge funds have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB in the fourth quarter valued at $29,000. Hilltop National Bank raised its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. NCP Inc. bought a new position in shares of MongoDB during the fourth quarter worth about $35,000. Brooklyn Investment Group acquired a new position in MongoDB in the third quarter worth about $36,000. Finally, Continuum Advisory LLC increased its holdings in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Price Performance

NASDAQ:MDB opened at $178.03 on Friday. The firm has a 50-day moving average of $245.56 and a two-hundred day moving average of $266.34. The stock has a market cap of $13.26 billion, a P/E ratio of -64.97 and a beta of 1.30. MongoDB has a 1-year low of $173.13 and a 1-year high of $387.19.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the prior year, the company posted $0.86 EPS. As a group, equities analysts expect that MongoDB will post -1.78 earnings per share for the current year.

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.