MongoDB (NASDAQ:MDB) Trading Down 5.3% – Here’s What Happened

MongoDB, Inc. (NASDAQ:MDB) shares dropped 5.3% on Thursday . The stock traded as low as $259.69 and last traded at $263.48. Approximately 481,810 shares were traded during trading, a decline of 69% from the average daily volume of 1,543,591 shares. The stock had previously closed at $278.33.

Analyst Ratings Changes

Several analysts have commented on MDB shares. Robert W. Baird boosted their target price on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a report on Wednesday, December 11th. Cantor Fitzgerald assumed coverage on MongoDB in a report on Friday, January 17th. They set an “overweight” rating and a $344.00 target price on the stock. Monness Crespi & Hardt downgraded MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target for the company. in a research note on Monday, December 16th. Finally, Wedbush raised MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Stock Down 2.0 %

The company has a market capitalization of $20.31 billion, a P/E ratio of -99.31 and a beta of 1.25. The firm has a fifty day simple moving average of $274.45 and a 200-day simple moving average of $269.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. On average, sell-side analysts predict that MongoDB, Inc. will post -1.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $265.00, for a total value of $265,000.00. Following the completion of the sale, the director now directly owns 1,116,006 shares of the company’s stock, valued at $295,741,590. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the completion of the transaction, the chief financial officer now owns 80,307 shares in the company, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,156 shares of company stock worth $9,220,473. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC grew its holdings in shares of MongoDB by 57.4% during the 4th quarter. Manchester Capital Management LLC now owns 384 shares of the company’s stock worth $89,000 after purchasing an additional 140 shares in the last quarter. Empire Life Investments Inc. raised its stake in MongoDB by 12.5% in the fourth quarter. Empire Life Investments Inc. now owns 29,535 shares of the company’s stock valued at $6,876,000 after purchasing an additional 3,277 shares in the last quarter. Rhumbline Advisers lifted its position in MongoDB by 0.5% during the fourth quarter. Rhumbline Advisers now owns 97,138 shares of the company’s stock worth $22,615,000 after purchasing an additional 467 shares during the period. Blue Trust Inc. grew its stake in MongoDB by 27.4% during the fourth quarter. Blue Trust Inc. now owns 1,181 shares of the company’s stock worth $275,000 after buying an additional 254 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in MongoDB in the 4th quarter valued at about $144,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.