MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman Sells 885 Shares

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the sale, the director now owns 83,845 shares in the company, valued at approximately $24,486,932.25. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

MongoDB Stock Down 1.7 %

NASDAQ:MDB traded down $5.00 during mid-day trading on Thursday, hitting $290.00. 1,522,756 shares of the company traded hands, compared to its average volume of 1,502,928. The stock’s fifty day moving average price is $261.59 and its 200-day moving average price is $273.25. MongoDB, Inc. has a one year low of $212.74 and a one year high of $459.70. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of -105.84 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million during 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 business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. Equities analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Norges Bank bought a new position in MongoDB during the fourth quarter valued at approximately $189,584,000. Jennison Associates LLC boosted its stake in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the last quarter. Marshall Wace LLP bought a new position in MongoDB during the fourth quarter valued at approximately $110,356,000. Raymond James Financial Inc. bought a new position in MongoDB during the fourth quarter valued at approximately $90,478,000. Finally, D1 Capital Partners L.P. bought a new position in MongoDB during the fourth quarter valued at approximately $76,129,000. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lifted their price objective on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Tigress Financial lifted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Truist Financial restated a “buy” rating and set a $400.00 price target (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. China Renaissance initiated coverage on MongoDB in a report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 target price on the stock. Finally, Loop Capital boosted their target price on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $361.00.

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.