MongoDB (NASDAQ:MDB) Trading Down 5.6% – Here’s Why

MongoDB, Inc. (NASDAQ:MDB) shares fell 5.6% on Friday . The company traded as low as $271.50 and last traded at $272.35. 2,358,962 shares were traded during mid-day trading, an increase of 55% from the average session volume of 1,522,469 shares. The stock had previously closed at $288.61.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Loop Capital raised their price objective on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Barclays raised their price target on MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Citigroup upped their price objective on MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Truist Financial reissued a “buy” rating and set a $400.00 target price (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $370.08.

MongoDB Price Performance

The business has a 50-day moving average of $293.17 and a 200-day moving average of $268.08. The company has a market capitalization of $19.74 billion, a P/E ratio of -97.51 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last released 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. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. Sell-side analysts predict that MongoDB, Inc. will post -2.29 EPS for the current fiscal year.

Insider Activity

In related news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.00, for a total transaction of $969,000.00. Following the completion of the sale, the director now directly owns 1,121,006 shares of the company’s stock, valued at approximately $362,084,938. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,600 shares of company stock valued at $7,611,849. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP bought a new position in shares of MongoDB during the third quarter valued at approximately $1,045,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in MongoDB during the 3rd quarter valued at $4,366,000. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 34,814 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after acquiring an additional 7,575 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of MongoDB during the 2nd quarter worth $1,860,000. 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.