MongoDB (NASDAQ:MDB) Trading Down 2.9%

MongoDB, Inc. (NASDAQ:MDB)’s share price traded down 2.9% during trading on Monday . The company traded as low as $370.22 and last traded at $372.62. 291,808 shares were traded during trading, a decline of 79% from the average session volume of 1,369,759 shares. The stock had previously closed at $383.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Guggenheim lifted their price objective on MongoDB from $250.00 to $272.00 and gave the stock a “sell” rating in a research note on Monday, March 4th. Truist Financial lifted their price objective on MongoDB from $440.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $465.00 price objective on shares of MongoDB in a research note on Thursday. Loop Capital began coverage on MongoDB in a research note on Tuesday, April 23rd. They set a “buy” rating and a $415.00 price objective for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $440.00 price target on shares of MongoDB in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $443.86.

MongoDB Stock Down 2.7 %

The firm has a 50-day moving average of $379.60 and a 200 day moving average of $391.08. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.32). MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. The company had revenue of $458.00 million for the quarter, compared to analyst estimates of $431.99 million. As a group, equities research analysts anticipate that MongoDB, Inc. will post -2.53 EPS for the current year.

Insider Activity

In other news, CEO Dev Ittycheria sold 33,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $405.77, for a total transaction of $13,390,410.00. Following the transaction, the chief executive officer now owns 198,166 shares in the company, valued at $80,409,817.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Dev Ittycheria sold 33,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $405.77, for a total transaction of $13,390,410.00. Following the transaction, the chief executive officer now owns 198,166 shares in the company, valued at $80,409,817.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Thomas Bull sold 170 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total value of $59,180.40. Following the transaction, the chief accounting officer now owns 17,360 shares in the company, valued at approximately $6,043,363.20. The disclosure for this sale can be found here. Insiders sold a total of 91,802 shares of company stock valued at $35,936,911 over the last three months. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. Transcendent Capital Group LLC bought a new position in MongoDB during the 4th quarter worth $25,000. BluePath Capital Management LLC bought a new position in MongoDB during the 3rd quarter worth $30,000. Blue Trust Inc. increased its stake in MongoDB by 937.5% during the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after acquiring an additional 75 shares during the period. Cullen Frost Bankers Inc. bought a new position in MongoDB during the 3rd quarter worth $35,000. Finally, AM Squared Ltd bought a new position in MongoDB during the 3rd quarter worth $35,000. Institutional investors own 89.29% of the company’s stock.

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.