MongoDB, Inc. (NASDAQ:MDB) Sees Significant Decline in Short Interest

MongoDB, Inc. (NASDAQ:MDB) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,650,000 shares, a decline of 22.2% from the February 13th total of 2,120,000 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 2,400,000 shares, the short-interest ratio is currently 0.7 days.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 169 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the transaction, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at $3,487,706.91. This trade represents a 1.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,139 shares of company stock valued at $11,328,869 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several large investors have recently added to or reduced their stakes in MDB. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of MongoDB in the fourth quarter worth $606,000. Geode Capital Management LLC lifted its stake in shares of MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of MongoDB in the third quarter worth $4,366,000. Charles Schwab Investment Management Inc. lifted its stake in shares of MongoDB by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after buying an additional 7,575 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in MongoDB during the 4th quarter valued at $3,515,000. 89.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on MDB shares. Needham & Company LLC decreased their price objective on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Truist Financial decreased their price target on shares of MongoDB from $400.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Macquarie decreased their price target on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Wedbush decreased their price target on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Piper Sandler decreased their price target on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $319.87.

MongoDB Price Performance

MDB traded up $0.31 on Wednesday, reaching $188.99. 203,942 shares of the company traded hands, compared to its average volume of 1,687,096. The stock’s 50 day moving average price is $254.38 and its 200-day moving average price is $271.46. MongoDB has a 52-week low of $173.13 and a 52-week high of $387.19. The company has a market cap of $14.07 billion, a price-to-earnings ratio of -68.94 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, equities research analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

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.