MongoDB (NASDAQ:MDB) Shares Down 5.6% – Time to Sell?

MongoDB, Inc. (NASDAQ:MDB)’s share price traded down 5.6% during mid-day trading on Friday . The stock traded as low as $271.50 and last traded at $272.35. 2,358,962 shares changed hands during mid-day trading, an increase of 55% from the average session volume of 1,522,469 shares. The stock had previously closed at $288.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday. Macquarie began coverage on MongoDB in a research report on Thursday. They set a “neutral” rating and a $300.00 target price for the company. Wells Fargo & Company increased their price target on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday. Loop Capital upped their price objective on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Barclays raised their target price on shares of MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $370.08.

MongoDB Trading Down 6.1 %

The company’s 50 day moving average price is $293.13 and its 200 day moving average price is $269.12. The company has a market cap of $20.02 billion, a price-to-earnings ratio of -100.68 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. Sell-side analysts predict that MongoDB, Inc. will post -2.29 earnings per share for the current year.

Insider Activity

In related news, CFO Michael Lawrence Gordon sold 1,884 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $482,775.00. Following the transaction, the chief financial officer now owns 80,307 shares in the company, valued at approximately $20,578,668.75. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,600 shares of company stock worth $7,611,849. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in MongoDB in the second quarter valued at about $52,131,000. Avala Global LP acquired a new stake in MongoDB during the 3rd quarter valued at approximately $47,960,000. Finally, Renaissance Technologies LLC raised its position in shares of MongoDB by 828.9% in the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after purchasing an additional 163,300 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.