MongoDB (NASDAQ:MDB) Trading Up 3.6%

MongoDB, Inc. (NASDAQ:MDB) was up 3.6% on Wednesday . The stock traded as high as $236.78 and last traded at $234.75. Approximately 513,776 shares traded hands during trading, a decline of 66% from the average daily volume of 1,511,480 shares. The stock had previously closed at $226.61.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDB. Canaccord Genuity Group dropped their target price on shares of MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Robert W. Baird decreased their price target on MongoDB from $450.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Piper Sandler dropped their price objective on shares of MongoDB from $480.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, May 31st. Oppenheimer reduced their target price on shares of MongoDB from $480.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Finally, Truist Financial lowered their price target on MongoDB from $475.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.30.

MongoDB Price Performance

The business has a fifty day moving average price of $310.02 and a 200-day moving average price of $369.21. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting the consensus estimate of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The firm had revenue of $450.56 million for the quarter, compared to analyst estimates of $438.44 million. As a group, sell-side analysts predict that MongoDB, Inc. will post -2.67 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $379.15, for a total transaction of $379,150.00. Following the completion of the transaction, the director now directly owns 522,896 shares in the company, valued at $198,256,018.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $379.15, for a total value of $379,150.00. Following the completion of the transaction, the director now directly owns 522,896 shares in the company, valued at approximately $198,256,018.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total value of $59,180.40. Following the completion of the transaction, the chief accounting officer now owns 17,360 shares in the company, valued at $6,043,363.20. The disclosure for this sale can be found here. Insiders have sold 49,976 shares of company stock worth $17,245,973 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Large investors have recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new position in MongoDB in the fourth quarter valued at about $25,000. Blue Trust Inc. grew its holdings in MongoDB by 937.5% during the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after buying an additional 75 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in MongoDB during the first quarter valued at $41,000. Parkside Financial Bank & Trust lifted its holdings in shares of MongoDB by 38.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 130 shares of the company’s stock valued at $45,000 after acquiring an additional 36 shares during the last quarter. Finally, Beacon Capital Management LLC increased its position in shares of MongoDB by 1,111.1% during the 4th quarter. Beacon Capital Management LLC now owns 109 shares of the company’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. 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.