Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells $398,630.70 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 1,385 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $287.82, for a total value of $398,630.70. Following the completion of the sale, the director now directly owns 89,063 shares in the company, valued at approximately $25,634,112.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

MongoDB Price Performance

MDB stock opened at $271.87 on Friday. The stock has a 50-day simple moving average of $269.54 and a 200-day simple moving average of $285.99. The firm has a market cap of $19.94 billion, a P/E ratio of -96.75 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $465.03 million. During the same period in the prior year, the firm earned ($0.63) earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts predict that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MFA Wealth Advisors LLC acquired a new stake in MongoDB during the 2nd quarter valued at approximately $25,000. J.Safra Asset Management Corp grew its position 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 worth $33,000 after buying an additional 116 shares in the last quarter. Quarry LP increased its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in MongoDB in the second quarter valued at $35,000. Finally, GAMMA Investing LLC boosted its stake in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MDB shares. Oppenheimer upped their price objective on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Wells Fargo & Company raised their price target 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. Tigress Financial cut their price objective on shares of MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Needham & Company LLC upped their price objective on shares of MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Mizuho lifted their target price on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $337.96.

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.