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 MongoDB stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $468,000.00. Following the completion of the sale, the director now directly owns 1,107,006 shares in the company, valued at $259,039,404. This trade represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded down $2.91 during trading on Monday, reaching $217.23. 2,258,266 shares of the stock were exchanged, compared to its average volume of 1,954,292. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of -79.28 and a beta of 1.39. The firm’s 50-day moving average price is $176.52 and its 200 day moving average price is $228.97. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. As a group, equities research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB in the 4th quarter valued at approximately $29,000. Cloud Capital Management LLC bought a new position in MongoDB during the first quarter worth $25,000. NCP Inc. bought a new position in MongoDB in the 4th quarter valued at about $35,000. Hollencrest Capital Management acquired a new stake in MongoDB during the 1st quarter worth approximately $26,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 120 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 target price on shares of MongoDB in a research note on Thursday. Loop Capital lowered shares of MongoDB from a “buy” rating to a “hold” rating and dropped their target price for the stock from $350.00 to $190.00 in a report on Tuesday, May 20th. The Goldman Sachs Group reduced their price objective on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Daiwa Capital Markets began coverage on MongoDB in a research report on Tuesday, April 1st. They set an “outperform” rating and a $202.00 price target on the stock. Finally, Truist Financial decreased their target price on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $282.47.

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.