MongoDB (NASDAQ:MDB) Trading 7.4% Higher – Here’s Why

MongoDB, Inc. (NASDAQ:MDB) rose 7.4% during trading on Tuesday . The company traded as high as $285.10 and last traded at $284.28. Approximately 819,510 shares were traded during trading, a decline of 43% from the average daily volume of 1,427,558 shares. The stock had previously closed at $264.58.

Analyst Ratings Changes

Several research firms have recently weighed in on MDB. China Renaissance started coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Monday, January 6th. Canaccord Genuity Group lifted their target price on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald initiated coverage on shares of MongoDB in a research report on Friday, January 17th. They issued an “overweight” rating and a $344.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.00.

MongoDB Stock Performance

The company’s 50-day moving average price is $274.45 and its two-hundred day moving average price is $269.62. The stock has a market cap of $20.19 billion, a PE ratio of -98.93 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 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 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 EPS. Equities research analysts forecast that MongoDB, Inc. will post -1.79 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the sale, the director now owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Thomas Bull sold 169 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the transaction, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,491 shares of company stock worth $11,554,190 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the business. Jennison Associates LLC boosted its position in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the period. Geode Capital Management LLC grew its holdings in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares in the last quarter. Holocene Advisors LP lifted its stake in MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after buying an additional 66,730 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after purchasing an additional 294,228 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.