Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells $253,590.15 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 1,045 shares of MongoDB stock in a transaction 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 sale, the director now directly owns 85,652 shares of the company’s stock, valued at approximately $20,785,170.84. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

MongoDB Stock Up 2.1 %

Shares of MongoDB stock opened at $253.11 on Friday. The firm has a market cap of $18.85 billion, a PE ratio of -92.38 and a beta of 1.25. The business has a 50-day moving average price of $278.24 and a 200 day moving average price of $269.10. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same period in the prior year, the company posted $0.96 EPS. The business’s quarterly revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts expect that MongoDB, Inc. will post -1.79 EPS for the current year.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Hilltop National Bank boosted its stake in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Quarry LP boosted its stake in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of MongoDB during the 3rd quarter worth $36,000. GAMMA Investing LLC boosted its position in shares of MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDB. Rosenblatt Securities began coverage on shares of MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price on the stock. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 6th. Morgan Stanley upped their price objective on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Scotiabank raised their target price on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

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.