Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells 2,000 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $349.17, for a total transaction of $698,340.00. Following the transaction, the director now owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

MongoDB Stock Down 3.2 %

Shares of MDB opened at $324.60 on Friday. The business’s 50 day simple moving average is $282.65 and its 200-day simple moving average is $272.02. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. 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 stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of -107.48 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 company had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. MongoDB’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts expect that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MDB shares. Needham & Company LLC increased their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a research report on Friday, August 30th. Stifel Nicolaus upped their price objective on MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Bank of America lifted their price objective on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Oppenheimer raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $340.29.

Institutional Trading of MongoDB

Large investors have recently made changes to their positions in the business. MFA Wealth Advisors LLC bought a new position in shares of MongoDB in the 2nd quarter valued at about $25,000. J.Safra Asset Management Corp lifted its stake in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 116 shares during the last quarter. Quarry LP lifted its stake in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of MongoDB during the 2nd quarter valued at approximately $35,000. Finally, Brooklyn Investment Group purchased a new stake in MongoDB during the 3rd quarter valued at $36,000. 89.29% of the stock is currently owned by institutional investors.

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.