Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells $713,190.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total transaction of $713,190.00. Following the transaction, the director now owns 1,117,006 shares in the company, valued at $265,545,836.38. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MongoDB Trading Up 2.6 %

MDB traded up $6.47 during midday trading on Monday, hitting $252.86. 1,932,889 shares of the company traded hands, compared to its average volume of 2,013,383. The company has a market capitalization of $18.83 billion, a price-to-earnings ratio of -92.28 and a beta of 1.25. The business has a 50 day simple moving average of $284.50 and a two-hundred day simple moving average of $268.59. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same period last year, the company posted $0.96 EPS. MongoDB’s quarterly revenue was up 22.3% compared to the same quarter last year. Equities research analysts anticipate that MongoDB, Inc. will post -1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDB. Scotiabank raised their price target on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Truist Financial reissued a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Macquarie assumed coverage on shares of MongoDB in a report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price target on the stock. DA Davidson raised their price objective on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus boosted their target price on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new stake in shares of MongoDB in the 3rd quarter worth $1,045,000. Geode Capital Management LLC raised its stake in MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MongoDB in the 3rd quarter valued at about $4,366,000. Charles Schwab Investment Management Inc. grew its stake in shares of MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after buying an additional 7,575 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of MongoDB during the 2nd quarter valued at approximately $1,860,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.