Cedric Pech Sells 287 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) insider Cedric Pech sold 287 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

MongoDB Stock Performance

Shares of MDB stock opened at $248.68 on Thursday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of -90.76 and a beta of 1.25. The company has a 50-day simple moving average of $282.82 and a 200 day simple moving average of $269.15.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. Sell-side analysts forecast that MongoDB, Inc. will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares in the last quarter. Brooklyn Investment Group acquired a new stake in MongoDB in the 3rd quarter worth about $36,000. Continuum Advisory LLC boosted its holdings in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. GAMMA Investing LLC grew its position in shares of MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of MongoDB during the third quarter worth approximately $44,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Royal Bank of Canada increased their target price on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Robert W. Baird lifted their price target on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, Oppenheimer upped their price objective on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $367.14.

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.