Short Interest in MongoDB, Inc. (NASDAQ:MDB) Rises By 25.1%

MongoDB, Inc. (NASDAQ:MDB) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 4,290,000 shares, a growth of 25.1% from the October 15th total of 3,430,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is presently 3.5 days.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MDB. Mizuho lifted their price objective on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Wells Fargo & Company lifted their target price on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Barclays raised their price objective on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research report on Friday. Scotiabank increased their target price on shares of MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. Finally, Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $336.54.

Insider Buying and Selling

In other MongoDB news, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total value of $872,370.00. Following the transaction, the director now directly owns 1,135,006 shares in the company, valued at $330,048,394.74. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,281 shares of company stock worth $6,657,121. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently modified their holdings of the business. MFA Wealth Advisors LLC purchased a new position in MongoDB during the second quarter valued at $25,000. J.Safra Asset Management Corp lifted its position in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares in the last quarter. Quarry LP grew its stake in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the period. Brooklyn Investment Group purchased a new stake in shares of MongoDB in the third quarter worth $36,000. Finally, Continuum Advisory LLC raised its holdings in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of NASDAQ MDB traded down $11.82 during midday trading on Friday, hitting $279.77. 1,764,369 shares of the stock traded hands, compared to its average volume of 1,129,416. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. MongoDB has a one year low of $212.74 and a one year high of $509.62. The firm has a market capitalization of $20.67 billion, a P/E ratio of -92.64 and a beta of 1.15. The firm has a 50-day moving average of $278.10 and a two-hundred day moving average of $274.30.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.63) earnings per share. On average, equities analysts forecast that MongoDB will post -2.39 EPS for the current fiscal 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.