MongoDB (NASDAQ:MDB) Director Sells $390,450.78 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Hope Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the transaction, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MongoDB Stock Performance

NASDAQ MDB remained flat at $253.12 during trading hours on Friday. The company had a trading volume of 1,288,985 shares, compared to its average volume of 1,654,893. The stock has a market cap of $20.34 billion, a price-to-earnings ratio of -287.64 and a beta of 1.60. The firm has a fifty day moving average of $311.62 and a 200-day moving average of $347.06. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $444.72.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company’s revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 earnings per share. As a group, equities research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on MDB shares. Canaccord Genuity Group reduced their price target on shares of MongoDB from $455.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Barclays cut their price objective on shares of MongoDB from $440.00 to $370.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Rosenblatt Securities restated a “buy” rating and issued a $425.00 target price on shares of MongoDB in a research note on Monday, March 2nd. Stifel Nicolaus decreased their target price on MongoDB from $450.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Piper Sandler cut their price target on MongoDB from $490.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Twenty-seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $360.03.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cramer Rosenthal Mcglynn LLC grew its position in MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock worth $17,938,000 after purchasing an additional 52,002 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MongoDB by 1,277.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock worth $5,655,000 after buying an additional 16,896 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of MongoDB by 209.0% in the 3rd quarter. Pacer Advisors Inc. now owns 4,549 shares of the company’s stock worth $1,412,000 after buying an additional 3,077 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of MongoDB by 42.1% in the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock valued at $41,910,000 after acquiring an additional 39,978 shares in the last quarter. Finally, Pinegrove Venture Partners LLC bought a new position in shares of MongoDB in the third quarter valued at approximately $1,032,000. 89.29% of the stock is owned by institutional investors.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.