MongoDB (NASDAQ:MDB) Rating Lowered to Hold at Wall Street Zen

MongoDB (NASDAQ:MDB) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other research firms also recently commented on MDB. Oppenheimer upped their price objective on MongoDB from $325.00 to $385.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Truist Financial upped their price target on MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Wedbush increased their price target on shares of MongoDB from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Needham & Company LLC boosted their price objective on shares of MongoDB from $325.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Monness Crespi & Hardt upped their target price on shares of MongoDB from $295.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $355.39.

MongoDB Stock Performance

Shares of MongoDB stock opened at $332.81 on Friday. The firm has a fifty day moving average of $333.41 and a two-hundred day moving average of $267.40. The stock has a market capitalization of $27.08 billion, a price-to-earnings ratio of -339.60 and a beta of 1.52. MongoDB has a 52 week low of $140.78 and a 52 week high of $385.44.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $338.52, for a total value of $3,385,200.00. Following the completion of the transaction, the director directly owned 1,055,316 shares of the company’s stock, valued at approximately $357,245,572.32. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Thomas Killalea sold 20,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $321.87, for a total value of $6,437,400.00. Following the transaction, the director owned 32,293 shares of the company’s stock, valued at approximately $10,394,147.91. This trade represents a 38.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 91,172 shares of company stock valued at $29,794,336. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MDB. Meiji Yasuda Asset Management Co Ltd. lifted its stake in MongoDB by 3.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock valued at $342,000 after acquiring an additional 40 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of MongoDB by 7.4% during the 3rd quarter. Brooklyn Investment Group now owns 679 shares of the company’s stock worth $211,000 after purchasing an additional 47 shares during the last quarter. Huntington National Bank raised its holdings in shares of MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. GAMMA Investing LLC lifted its stake in MongoDB by 46.2% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $53,000 after purchasing an additional 54 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings in MongoDB by 82.1% during the third quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock worth $39,000 after purchasing an additional 55 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.