Dwight A. Merriman Sells 3,000 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $237.73, for a total value of $713,190.00. Following the completion of the sale, the director now owns 1,117,006 shares of the company’s stock, valued at $265,545,836.38. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

MongoDB Stock Down 2.7 %

Shares of NASDAQ MDB opened at $245.96 on Wednesday. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The company has a market cap of $18.32 billion, a PE ratio of -89.77 and a beta of 1.25. The business’s 50 day moving average price is $284.11 and its two-hundred day moving average price is $269.17.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the prior year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, research analysts anticipate that MongoDB, Inc. will post -1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on MDB. Canaccord Genuity Group raised their target price on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $425.00 price objective on shares of MongoDB 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 company a “sector perform” rating in a research report on Tuesday, December 10th. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Finally, Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $367.14.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of MDB. Quarry LP lifted its position in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of MongoDB during the third quarter worth approximately $36,000. Continuum Advisory LLC lifted its holdings in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. GAMMA Investing LLC boosted its stake in MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in MongoDB in the 3rd quarter valued at $44,000. Institutional investors own 89.29% of the company’s stock.

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.