MongoDB, Inc. (NASDAQ:MDB) Sees Significant Increase in Short Interest

MongoDB, Inc. (NASDAQ:MDB) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,040,000 shares, an increase of 84.2% from the February 28th total of 1,650,000 shares. Approximately 4.2% of the company’s shares are short sold. Based on an average daily trading volume, of 2,160,000 shares, the short-interest ratio is currently 1.4 days.

Insider Transactions at MongoDB

In other MongoDB news, CAO Thomas Bull sold 169 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $3,487,706.91. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cedric Pech sold 287 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock worth $11,328,869 in the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Large investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in MongoDB during the fourth quarter worth $29,000. Hilltop National Bank boosted its position in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. NCP Inc. acquired a new position in shares of MongoDB during the 4th quarter worth $35,000. Brooklyn Investment Group purchased a new position in shares of MongoDB in the 3rd quarter valued at about $36,000. Finally, Continuum Advisory LLC lifted its stake in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wedbush decreased their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada decreased their target price on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. JMP Securities reiterated a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research note on Wednesday, December 11th. Bank of America lowered their price objective on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, China Renaissance started coverage on shares of MongoDB in a research note on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $320.70.

MongoDB Stock Down 5.6 %

NASDAQ:MDB opened at $178.03 on Friday. The company has a market capitalization of $13.26 billion, a PE ratio of -64.97 and a beta of 1.30. MongoDB has a 52-week low of $173.13 and a 52-week high of $387.19. The stock’s 50 day moving average price is $245.56 and its 200 day moving average price is $266.34.

MongoDB (NASDAQ:MDB) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

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.