Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells 1,045 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 1,045 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $242.67, for a total value of $253,590.15. Following the completion of the transaction, the director now owns 85,652 shares in the company, valued at $20,785,170.84. The trade was a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

MongoDB Price Performance

NASDAQ MDB traded up $0.50 during trading on Wednesday, hitting $242.91. 1,057,983 shares of the company’s stock traded hands, compared to its average volume of 1,524,993. The stock has a fifty day moving average of $280.67 and a two-hundred day moving average of $269.51. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62. The firm has a market cap of $18.09 billion, a P/E ratio of -88.65 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s revenue was up 22.3% on a year-over-year basis. As a group, analysts expect that MongoDB, Inc. will post -1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in MongoDB by 1,677.3% in the second quarter. Acadian Asset Management LLC now owns 3,679 shares of the company’s stock worth $916,000 after buying an additional 3,472 shares in the last quarter. William Blair Investment Management LLC raised its stake in MongoDB by 268.5% in the second quarter. William Blair Investment Management LLC now owns 34,385 shares of the company’s stock worth $8,595,000 after buying an additional 25,053 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in MongoDB by 13.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,365 shares of the company’s stock worth $1,591,000 after buying an additional 741 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MongoDB by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 111,487 shares of the company’s stock worth $27,865,000 after buying an additional 17,990 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in MongoDB by 828.9% in the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after buying an additional 163,300 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MDB shares. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Monday, January 6th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Scotiabank lifted their price target on shares of MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. KeyCorp boosted their target price on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Loop Capital boosted their target price on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $364.64.

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.