Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells 3,000 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $237.73, for a total transaction of $713,190.00. Following the transaction, the director now directly owns 1,117,006 shares in the company, valued at $265,545,836.38. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $245.96 on Wednesday. The stock has a market cap of $18.32 billion, a P/E ratio of -89.77 and a beta of 1.25. The firm has a 50 day moving average price of $284.11 and a two-hundred day moving average price of $269.17. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period last year, the company earned $0.96 EPS. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. Analysts predict that MongoDB, Inc. will post -1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP raised its holdings in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of MongoDB during the third quarter worth $36,000. GAMMA Investing LLC raised its stake in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after buying an additional 93 shares during the last quarter. Continuum Advisory LLC lifted its holdings in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the period. Finally, Asset Dedication LLC bought a new stake in MongoDB during the second quarter valued at $41,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDB has been the topic of a number of recent research reports. Scotiabank raised their price objective on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Citigroup boosted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Barclays increased their price objective on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Macquarie began coverage on shares of MongoDB in a research report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. Finally, Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $367.14.

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.