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

Shares of MongoDB, Inc. (NASDAQ:MDB) fell 4.1% on Wednesday following insider selling activity. The stock traded as low as $320.68 and last traded at $321.52. 323,661 shares were traded 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 the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $349.17, for a total value of $698,340.00. Following the sale, the director now directly owns 1,124,006 shares of the company’s stock, valued at $392,469,175.02. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research analysts have recently commented on MDB shares. Oppenheimer upped their target price on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Scotiabank boosted their price objective on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Mizuho lifted their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Truist Financial increased their price objective on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $340.29.

MongoDB Stock Performance

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

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

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in the company. Jennison Associates LLC grew its stake in MongoDB by 23.6% during the 3rd 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 last quarter. Swedbank AB boosted its position in MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in MongoDB by 1,098.1% in 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 period. Point72 Asset Management L.P. acquired a new position in MongoDB in the 2nd quarter worth approximately $52,131,000. Finally, Avala Global LP acquired a new stake in MongoDB during the 3rd quarter valued at approximately $47,960,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.