MongoDB (NASDAQ:MDB) Director Sells $390,450.78 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Hope Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the transaction, the director owned 24,093 shares of the company’s stock, valued at $6,007,107.69. This trade represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

MongoDB Price Performance

Shares of MongoDB stock remained flat at $253.12 during trading hours on Friday. The stock had a trading volume of 1,288,985 shares, compared to its average volume of 1,654,893. The stock has a market capitalization of $20.34 billion, a PE ratio of -287.64 and a beta of 1.60. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $444.72. The stock’s 50-day moving average is $311.62 and its two-hundred day moving average is $347.06.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. During the same period in the previous year, the firm earned $1.28 EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. Sell-side analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDB has been the subject of several research analyst reports. Cantor Fitzgerald decreased their price target on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. The Goldman Sachs Group reduced their price objective on MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of MongoDB in a research report on Friday, March 27th. Mizuho upgraded MongoDB from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $290.00 to $325.00 in a research note on Monday, March 23rd. Finally, Scotiabank raised MongoDB from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $275.00 to $310.00 in a research report on Thursday, March 5th. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $360.03.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC grew its position in shares of MongoDB by 31.6% in the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after purchasing an additional 327 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of MongoDB by 55.0% during the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after purchasing an additional 1,504 shares during the period. Sivia Capital Partners LLC purchased a new stake in MongoDB during the 2nd quarter worth about $329,000. Prudential Financial Inc. boosted its stake in MongoDB by 114.8% in the 2nd quarter. Prudential Financial Inc. now owns 5,826 shares of the company’s stock worth $1,223,000 after purchasing an additional 3,114 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in MongoDB by 251.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,279 shares of the company’s stock worth $269,000 after purchasing an additional 915 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.