MongoDB (NASDAQ:MDB) Stock Price Down 4.1% After Insider Selling

MongoDB, Inc. (NASDAQ:MDB) traded down 4.1% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $320.68 and last traded at $321.52. 323,661 shares traded hands during trading, a decline of 78% from the average session volume of 1,449,876 shares. The stock had previously closed at $335.40.

Specifically, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the completion of the transaction, the director now directly owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDB. Piper Sandler raised their price objective on shares of MongoDB from $335.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial lifted their price objective on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. Citigroup lifted their price target on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America upped their price target on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $340.29.

MongoDB Stock Performance

The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The stock’s 50 day simple moving average is $282.65 and its two-hundred day simple moving average is $272.02.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.63) earnings per share. Sell-side analysts forecast that MongoDB, Inc. will post -2.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jennison Associates LLC grew its holdings in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the period. Geode Capital Management LLC boosted its holdings in MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Swedbank AB boosted its holdings in MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after purchasing an additional 400,705 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after buying an additional 7,526 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares during the last quarter. 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.