MongoDB (NASDAQ:MDB) Sees Strong Trading Volume – Still a Buy?

Shares of MongoDB, Inc. (NASDAQ:MDB) saw unusually-strong trading volume on Thursday . Approximately 1,003,819 shares traded hands during trading, a decline of 30% from the previous session’s volume of 1,442,082 shares.The stock last traded at $271.09 and had previously closed at $278.39.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MDB shares. Scotiabank lifted their price target on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Mizuho boosted their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. DA Davidson upped their price target on shares of MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 11th. Needham & Company LLC boosted their target price on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Truist Financial increased their target price on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $337.96.

MongoDB Stock Performance

The firm has a 50-day simple moving average of $268.79 and a two-hundred day simple moving average of $286.09. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $19.95 billion, a price-to-earnings ratio of -99.07 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.49 by $0.21. The business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.63) EPS. As a group, sell-side analysts forecast that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Thomas Bull sold 154 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other MongoDB news, Director Dwight A. Merriman sold 1,385 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $287.82, for a total transaction of $398,630.70. Following the completion of the sale, the director now directly owns 89,063 shares in the company, valued at $25,634,112.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was 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 owns 16,068 shares in the company, valued at $4,117,425. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,281 shares of company stock worth $6,310,411. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC raised its position in shares of MongoDB by 10.5% during the third quarter. Bleakley Financial Group LLC now owns 939 shares of the company’s stock valued at $254,000 after buying an additional 89 shares during the last quarter. MN Wealth Advisors LLC raised its holdings in MongoDB by 11.9% in the 3rd quarter. MN Wealth Advisors LLC now owns 2,576 shares of the company’s stock valued at $696,000 after acquiring an additional 273 shares in the last quarter. Creative Planning lifted its position in shares of MongoDB by 16.2% in the 3rd quarter. Creative Planning now owns 17,418 shares of the company’s stock worth $4,709,000 after acquiring an additional 2,427 shares during the period. Sapient Capital LLC acquired a new stake in shares of MongoDB during the 3rd quarter worth approximately $736,000. Finally, CHICAGO TRUST Co NA acquired a new position in shares of MongoDB in the third quarter valued at $255,000. 89.29% of the stock is owned by institutional investors.

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.