MongoDB, Inc. (NASDAQ:MDB) Director Sells $768,750.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the sale, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

MongoDB Trading Up 4.9 %

NASDAQ:MDB opened at $265.36 on Monday. 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 stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of -94.43 and a beta of 1.15. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The firm has a 50 day moving average of $261.97 and a 200 day moving average of $289.99.

MongoDB (NASDAQ:MDB) last released its 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 company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. MongoDB’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the business earned ($0.63) EPS. As a group, sell-side analysts anticipate that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDB has been the subject of several recent research reports. Truist Financial lifted their price target on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Bank of America lifted their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Stifel Nicolaus increased their price objective on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Tigress Financial decreased their price target on MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $337.56.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in MDB. Vanguard Group Inc. increased its holdings in shares of MongoDB by 1.0% in the first quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock valued at $2,478,475,000 after purchasing an additional 68,348 shares during the period. Jennison Associates LLC raised its holdings in shares of MongoDB by 14.3% during the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after purchasing an additional 551,567 shares during the last quarter. Swedbank AB raised its holdings in shares of MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after purchasing an additional 400,705 shares during the last quarter. Champlain Investment Partners LLC lifted its position in MongoDB by 22.4% during the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock valued at $197,497,000 after purchasing an additional 100,725 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in MongoDB by 109.0% in the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after purchasing an additional 232,101 shares during the last quarter. 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.