MongoDB (NASDAQ:MDB) Shares Down 5%

MongoDB, Inc. (NASDAQ:MDB)’s stock price dropped 5% during mid-day trading on Monday . The company traded as low as $482.04 and last traded at $482.89. Approximately 33,297 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 827,745 shares. The stock had previously closed at $508.04.

MDB has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on shares of MongoDB from $425.00 to $525.00 and gave the company an “overweight” rating in a research note on Friday, September 3rd. UBS Group lifted their target price on shares of MongoDB from $300.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, September 3rd. Barclays lifted their target price on shares of MongoDB from $505.00 to $590.00 and gave the company an “overweight” rating in a research note on Friday, September 17th. They noted that the move was a valuation call. Canaccord Genuity raised their price target on shares of MongoDB from $245.00 to $290.00 and gave the company a “buy” rating in a report on Friday, September 3rd. Finally, Argus raised their price target on shares of MongoDB from $406.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, September 7th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $472.44.

The business’s fifty day simple moving average is $411.04 and its 200 day simple moving average is $346.98. The company has a current ratio of 5.74, a quick ratio of 5.74 and a debt-to-equity ratio of 1.69. The stock has a market cap of $32.01 billion, a price-to-earnings ratio of -102.09 and a beta of 0.74.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, September 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.15. MongoDB had a negative net margin of 41.24% and a negative return on equity of 239.38%. The firm had revenue of $198.75 million during the quarter, compared to analyst estimates of $184.19 million. During the same quarter in the previous year, the business earned ($0.22) EPS. The business’s quarterly revenue was up 43.7% compared to the same quarter last year. As a group, research analysts anticipate that MongoDB, Inc. will post -4.72 earnings per share for the current year.

In other news, CEO Dev Ittycheria sold 35,000 shares of MongoDB stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $499.55, for a total transaction of $17,484,250.00. Following the transaction, the chief executive officer now directly owns 255,196 shares of the company’s stock, valued at $127,483,161.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas Bull sold 2,500 shares of MongoDB stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $501.02, for a total transaction of $1,252,550.00. Following the transaction, the insider now directly owns 19,867 shares in the company, valued at $9,953,764.34. The disclosure for this sale can be found here. Insiders have sold a total of 175,965 shares of company stock valued at $69,874,053 in the last ninety days. Company insiders own 7.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MDB. Northwestern Mutual Wealth Management Co. bought a new stake in MongoDB in the 2nd quarter valued at $29,000. BerganKDV Wealth Management LLC bought a new stake in MongoDB in the 2nd quarter valued at $36,000. Quadrant Capital Group LLC lifted its position in MongoDB by 39.4% in the 1st quarter. Quadrant Capital Group LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 41 shares in the last quarter. Lindbrook Capital LLC lifted its position in MongoDB by 85.5% in the 2nd quarter. Lindbrook Capital LLC now owns 115 shares of the company’s stock valued at $42,000 after acquiring an additional 53 shares in the last quarter. Finally, Tsfg LLC bought a new stake in MongoDB in the 2nd quarter valued at $44,000. 92.94% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Company Profile (NASDAQ:MDB)

MongoDB, Inc engages in the development and provision of a general purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.

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