MongoDB, Inc. (NASDAQ:MDB) Insider Cedric Pech Sells 287 Shares

MongoDB, Inc. (NASDAQ:MDB) insider Cedric Pech sold 287 shares of the firm’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 value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

MongoDB Stock Up 2.6 %

Shares of NASDAQ:MDB opened at $252.86 on Tuesday. The company has a market cap of $18.83 billion, a P/E ratio of -92.28 and a beta of 1.25. The business has a fifty day simple moving average of $284.11 and a 200-day simple moving average of $269.17. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the business earned $0.96 EPS. The firm’s revenue was up 22.3% on a year-over-year basis. Sell-side analysts expect that MongoDB, Inc. will post -1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently made changes to their positions in the stock. Everence Capital Management Inc. purchased a new position in shares of MongoDB in the 4th quarter worth $624,000. Versant Capital Management Inc raised its holdings in MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after buying an additional 165 shares during the period. Principal Financial Group Inc. lifted its position in MongoDB by 2.7% during the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after buying an additional 160 shares in the last quarter. Tidal Investments LLC grew its stake in MongoDB by 76.8% during the third quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock worth $2,125,000 after buying an additional 3,415 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of MongoDB in the third quarter worth $44,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Mizuho raised their target price on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Scotiabank boosted their price objective on shares of MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Rosenblatt Securities began coverage on shares of MongoDB in a research report on Tuesday, December 17th. They set a “buy” rating and a $350.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Oppenheimer upped their price target on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $367.14.

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.