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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price target on MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, August 30th. DA Davidson upped their target price on shares of MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Mizuho raised their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Stifel Nicolaus increased their price objective on MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $340.29.

MongoDB Trading Down 3.2 %

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 company has a fifty day moving average price of $282.65 and a 200 day moving average price of $272.02.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MFA Wealth Advisors LLC purchased a new stake in MongoDB during the 2nd quarter valued at $25,000. J.Safra Asset Management Corp raised its stake in shares of MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares during the last quarter. Quarry LP boosted its holdings in shares of MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of MongoDB in the second quarter worth about $35,000. Finally, Brooklyn Investment Group purchased a new position in MongoDB during the 3rd quarter valued at about $36,000. 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.