MongoDB (NASDAQ:MDB) Shares Down 4.1% – Should You Sell?

MongoDB, Inc. (NASDAQ:MDB) dropped 4.1% during mid-day trading on Wednesday . The company traded as low as $320.68 and last traded at $321.52. Approximately 323,661 shares traded hands during trading, a decline of 78% from the average daily volume of 1,449,876 shares. The stock had previously closed at $335.40.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research report on Friday, August 30th. Piper Sandler lifted their price target on shares of MongoDB from $335.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays lifted their price target on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Wells Fargo & Company lifted their price target on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Citigroup lifted their price target on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $340.29.

MongoDB Price Performance

The stock’s fifty day moving average price is $280.95 and its 200-day moving average price is $271.28. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The firm has a market cap of $23.74 billion, a price-to-earnings ratio of -106.46 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last released 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 previous year, the business earned ($0.63) earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts predict that MongoDB, Inc. will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, CAO Thomas Bull sold 154 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the sale, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the transaction, the director now directly owns 1,135,006 shares in the company, valued at $330,048,394.74. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,600 shares of company stock worth $7,034,249. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aigen Investment Management LP acquired a new stake in MongoDB during the 3rd quarter worth approximately $1,045,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in MongoDB during the 3rd quarter worth approximately $4,366,000. Sanctuary Advisors LLC acquired a new stake in MongoDB during the 2nd quarter worth approximately $1,860,000. Sycomore Asset Management raised its holdings in MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock worth $12,884,000 after buying an additional 24,827 shares during the period. Finally, Cetera Investment Advisers raised its holdings in MongoDB by 327.6% during the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock worth $3,899,000 after buying an additional 8,330 shares during the period. 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.