MongoDB (NASDAQ:MDB) Stock Price Down 5.6% – Here’s Why

Shares of MongoDB, Inc. (NASDAQ:MDB) were down 5.6% during trading on Friday . The stock traded as low as $271.50 and last traded at $272.35. Approximately 2,358,962 shares changed hands during trading, an increase of 55% from the average daily volume of 1,522,469 shares. The stock had previously closed at $288.61.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday. Scotiabank upped their price target on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research report on Tuesday. Needham & Company LLC lifted their price objective on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday. Macquarie initiated coverage on shares of MongoDB in a research report on Thursday. They issued a “neutral” rating and a $300.00 price target on the stock. Finally, Citigroup boosted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $370.08.

MongoDB Stock Down 6.1 %

The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of -100.68 and a beta of 1.17. The firm’s 50 day moving average is $293.13 and its 200 day moving average is $269.12.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, sell-side analysts predict that MongoDB, Inc. will post -2.29 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $768,750.00. Following the completion of the sale, the director now directly owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Cedric Pech sold 302 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the transaction, the executive now owns 33,440 shares in the company, valued at approximately $8,569,000. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,600 shares of company stock valued at $7,611,849. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Aigen Investment Management LP bought a new position in MongoDB during the third quarter valued at approximately $1,045,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of MongoDB in the 3rd quarter valued at $4,366,000. Charles Schwab Investment Management Inc. boosted its holdings in MongoDB by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after purchasing an additional 7,575 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in MongoDB during the second quarter worth $1,860,000. Finally, Sycomore Asset Management raised its holdings in MongoDB by 86.4% during the second quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after buying an additional 24,827 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.