MongoDB (NASDAQ:MDB) Trading Up 9.1% – Time to Buy?

MongoDB, Inc. (NASDAQ:MDB)’s stock price was up 9.1% during mid-day trading on Wednesday . The stock traded as high as $319.88 and last traded at $318.14. Approximately 983,008 shares were traded during trading, a decline of 31% from the average daily volume of 1,422,409 shares. The stock had previously closed at $291.65.

Wall Street Analyst Weigh In

Several analysts have issued reports on MDB shares. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. Mizuho boosted their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Oppenheimer upped their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus upped their price objective on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Citigroup upped their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $334.25.

MongoDB Trading Up 6.0 %

The company’s fifty day simple moving average is $277.73 and its two-hundred day simple moving average is $275.92. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $465.03 million. During the same period last year, the business posted ($0.63) earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts predict that MongoDB, Inc. will post -2.39 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the transaction, the director now directly owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,281 shares of company stock worth $6,657,121 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Vanguard Group Inc. increased its position in MongoDB by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock worth $2,478,475,000 after purchasing an additional 68,348 shares in the last quarter. Jennison Associates LLC increased its position in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Swedbank AB increased its position in MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after purchasing an additional 400,705 shares in the last quarter. Champlain Investment Partners LLC increased its position in MongoDB by 22.4% during the 1st quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock worth $197,497,000 after purchasing an additional 100,725 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after purchasing an additional 7,526 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.