MongoDB (NASDAQ:MDB) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company cut shares of MongoDB (NASDAQ:MDB) from an overweight rating to an equal weight rating in a report released on Thursday, MarketBeat Ratings reports. Wells Fargo & Company currently has $225.00 price target on the stock, down from their prior price target of $365.00.

Several other analysts have also commented on the company. Tigress Financial raised their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Macquarie assumed coverage on MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price target on the stock. The Goldman Sachs Group lifted their price target on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group lifted their price target on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Citigroup lifted their price target on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $319.87.

MongoDB Trading Down 2.8 %

Shares of MDB opened at $187.65 on Thursday. MongoDB has a 12 month low of $181.05 and a 12 month high of $387.19. The stock’s 50 day moving average is $261.68 and its two-hundred day moving average is $274.38. The firm has a market cap of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period in the previous year, the business posted $0.86 earnings per share. Equities research analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares of the company’s stock, valued at approximately $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,314 shares of company stock worth $13,337,753 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. B.O.S.S. Retirement Advisors LLC acquired a new position in MongoDB during the 4th quarter worth $606,000. Aigen Investment Management LP acquired a new position in shares of MongoDB during the 3rd quarter worth about $1,045,000. Geode Capital Management LLC boosted its position in shares of MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after acquiring an additional 34,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of MongoDB during the 3rd quarter worth about $4,366,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of MongoDB by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after acquiring an additional 7,575 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.