MongoDB (NASDAQ:MDB) Sees Large Volume Increase – Still a Buy?

Shares of MongoDB, Inc. (NASDAQ:MDB) saw an uptick in trading volume on Friday . 1,994,344 shares traded hands during trading, an increase of 20% from the previous session’s volume of 1,657,288 shares.The stock last traded at $185.47 and had previously closed at $192.98.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MDB. Loop Capital decreased their target price on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Robert W. Baird reduced their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday. DA Davidson raised their price objective on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. UBS Group set a $350.00 price objective on MongoDB in a research report on Tuesday. Finally, Stifel Nicolaus reduced their price objective on MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $319.87.

MongoDB Trading Down 2.8 %

The stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of -68.49 and a beta of 1.30. The stock has a fifty day moving average of $261.68 and a two-hundred day moving average of $274.38.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the previous year, the business posted $0.86 earnings per share. Equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 885 shares of the firm’s stock in a transaction 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 transaction, the director now owns 83,845 shares in the company, valued at $24,486,932.25. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,314 shares of company stock worth $13,337,753. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Norges Bank bought a new position in shares of MongoDB in the 4th quarter worth $189,584,000. Jennison Associates LLC boosted its position in shares of 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 purchasing an additional 592,038 shares during the last quarter. Marshall Wace LLP bought a new position in shares of MongoDB in the 4th quarter worth $110,356,000. Raymond James Financial Inc. bought a new position in MongoDB during the fourth quarter worth about $90,478,000. Finally, D1 Capital Partners L.P. bought a new position in MongoDB during the fourth quarter worth about $76,129,000. 89.29% of the stock is currently 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.