MongoDB (NASDAQ:MDB) Shares Gap Down to $261.69

MongoDB, Inc. (NASDAQ:MDB)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $261.69, but opened at $254.47. MongoDB shares last traded at $253.06, with a volume of 144,319 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MDB shares. Canaccord Genuity Group dropped their price target on MongoDB from $435.00 to $325.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Oppenheimer cut their target price on shares of MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Monness Crespi & Hardt upgraded shares of MongoDB to a “hold” rating in a research report on Tuesday, May 28th. Piper Sandler cut their price objective on MongoDB from $350.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Stifel Nicolaus reduced their target price on MongoDB from $435.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.74.

MongoDB Stock Down 2.5 %

The stock has a fifty day moving average of $244.29 and a two-hundred day moving average of $325.52. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of -93.13 and a beta of 1.13.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, meeting the consensus estimate of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The business had revenue of $450.56 million for the quarter, compared to analyst estimates of $438.44 million. As a group, analysts predict that MongoDB, Inc. will post -2.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Dennis Mcmahon sold 10,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the director now directly owns 20,020 shares of the company’s stock, valued at approximately $4,564,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director John Dennis Mcmahon sold 10,000 shares of MongoDB stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the sale, the director now owns 20,020 shares in the company, valued at $4,564,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $234.24, for a total transaction of $468,480.00. Following the completion of the transaction, the director now directly owns 1,146,784 shares of the company’s stock, valued at $268,622,684.16. The disclosure for this sale can be found here. Insiders sold a total of 30,179 shares of company stock worth $7,368,989 over the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of MongoDB by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock valued at $2,797,521,000 after acquiring an additional 194,148 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its stake in MongoDB by 24.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock valued at $22,205,000 after purchasing an additional 10,753 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of MongoDB by 0.8% during the fourth quarter. Fiera Capital Corp now owns 224,293 shares of the company’s stock worth $91,702,000 after purchasing an additional 1,695 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of MongoDB in the 4th quarter worth about $10,545,000. Finally, Prudential PLC grew its position in shares of MongoDB by 2.4% during the 4th quarter. Prudential PLC now owns 21,169 shares of the company’s stock valued at $8,655,000 after buying an additional 489 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

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.