MongoDB (NASDAQ:MDB) Trading Down 5.6% – Here’s What Happened

MongoDB, Inc. (NASDAQ:MDB)’s stock price fell 5.6% during trading on Friday . The company traded as low as $271.50 and last traded at $272.35. 2,358,962 shares were traded during trading, an increase of 55% from the average session volume of 1,522,469 shares. The stock had previously closed at $288.61.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stifel Nicolaus raised their target price on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Loop Capital raised their price objective on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. The Goldman Sachs Group upped their target price on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wedbush raised MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average price target of $370.08.

MongoDB Stock Down 7.4 %

The company has a market capitalization of $19.74 billion, a PE ratio of -97.51 and a beta of 1.17. The firm has a 50-day moving average of $293.17 and a two-hundred day moving average of $268.08.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter last year, the company earned $0.96 EPS. The business’s revenue was up 22.3% on a year-over-year basis. Equities analysts predict that MongoDB, Inc. will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CRO Cedric Pech sold 302 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the transaction, the executive now directly owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the sale, the director now directly owns 1,131,006 shares of the company’s stock, valued at $289,820,287.50. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,600 shares of company stock valued at $7,611,849. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Large investors have recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new stake in shares of MongoDB in the second quarter worth approximately $25,000. Quarry LP boosted its stake in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of MongoDB during the second quarter worth $35,000. Brooklyn Investment Group acquired a new stake in shares of MongoDB in the third quarter valued at about $36,000. Finally, GAMMA Investing LLC lifted its stake in shares of MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after buying an additional 93 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other 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.