Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells 1,045 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 1,045 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $242.67, for a total value of $253,590.15. Following the sale, the director now directly owns 85,652 shares of the company’s stock, valued at $20,785,170.84. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

MongoDB Stock Up 2.1 %

Shares of MDB opened at $253.11 on Friday. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of -92.38 and a beta of 1.25. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62. The stock has a 50 day moving average price of $278.24 and a 200 day moving average price of $269.10.

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

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in MDB. Acadian Asset Management LLC grew its position in shares of MongoDB by 1,677.3% during the second quarter. Acadian Asset Management LLC now owns 3,679 shares of the company’s stock worth $916,000 after acquiring an additional 3,472 shares during the last quarter. William Blair Investment Management LLC grew its position in MongoDB by 268.5% during the 2nd quarter. William Blair Investment Management LLC now owns 34,385 shares of the company’s stock worth $8,595,000 after purchasing an additional 25,053 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in MongoDB by 13.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,365 shares of the company’s stock valued at $1,591,000 after purchasing an additional 741 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MongoDB by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 111,487 shares of the company’s stock worth $27,865,000 after buying an additional 17,990 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of MongoDB by 828.9% during the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after buying an additional 163,300 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MDB. Robert W. Baird lifted their price target on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Mizuho lifted their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt cut MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target on the stock. in a research note on Monday, December 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada increased their target price on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $363.93.

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.