Dwight A. Merriman Sells 885 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total transaction of $258,464.25. Following the completion of the transaction, the director now directly owns 83,845 shares in the company, valued at $24,486,932.25. This represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MongoDB Stock Down 5.8 %

NASDAQ MDB opened at $273.26 on Friday. The stock has a market capitalization of $20.35 billion, a PE ratio of -99.73 and a beta of 1.28. The company has a 50 day moving average price of $261.59 and a two-hundred day moving average price of $273.25. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $459.70.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same period in the previous year, the company earned $0.96 earnings per share. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Institutional Trading of MongoDB

A number of institutional investors and hedge funds have recently modified their holdings of MDB. Creative Planning lifted its stake in shares of MongoDB by 16.2% in the third quarter. Creative Planning now owns 17,418 shares of the company’s stock worth $4,709,000 after buying an additional 2,427 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of MongoDB by 10.5% in the third quarter. Bleakley Financial Group LLC now owns 939 shares of the company’s stock worth $254,000 after buying an additional 89 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of MongoDB by 72.3% in the third quarter. Blue Trust Inc. now owns 927 shares of the company’s stock worth $232,000 after buying an additional 389 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of MongoDB in the third quarter worth $302,000. Finally, Signaturefd LLC increased its position in MongoDB by 11.7% during the third quarter. Signaturefd LLC now owns 1,752 shares of the company’s stock worth $474,000 after acquiring an additional 183 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MDB. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their price objective on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird lifted their price objective on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Loop Capital lifted their price objective on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $361.00.

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.