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MongoDB, Inc. (NASDAQ:MDB – Get Free Report)’s stock price reached a new 52-week low during trading on Monday after an insider sold shares in the company. The company traded as low as $140.78 and last traded at $141.13, with a volume of 442325 shares changing hands. The stock had previously closed at $154.39.
Specifically, CFO Srdjan Tanjga sold 525 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the transaction, the chief financial officer now directly owns 6,406 shares in the company, valued at $1,109,903.56. This trade represents a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cedric Pech sold 1,690 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the sale, the insider now owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In related news, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at approximately $2,529,103.50. This trade represents a 2.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on MDB shares. China Renaissance assumed coverage on shares of MongoDB in a research report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target on the stock. Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. The Goldman Sachs Group lowered their price target on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Bank of America decreased their target price on MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Daiwa Capital Markets started coverage on MongoDB in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.84.
Read Our Latest Stock Analysis on MDB
MongoDB Stock Down 4.5 %
The business’s fifty day moving average is $234.34 and its two-hundred day moving average is $260.82. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of -53.79 and a beta of 1.49.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.86 EPS. Research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.
Hedge Funds Weigh In On MongoDB
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after acquiring an additional 181,962 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after acquiring an additional 22,106 shares during the period. First Trust Advisors LP boosted its position in shares of MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after purchasing an additional 95,893 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of MongoDB in the 4th quarter valued at $189,584,000. 89.29% of the stock is owned by institutional investors.
MongoDB Company Profile
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.
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