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

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

MongoDB Stock Down 2.7 %

Shares of MDB stock opened at $245.96 on Wednesday. The company’s 50 day moving average is $284.11 and its 200 day moving average is $269.17. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of -89.77 and a beta of 1.25. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly 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 during the quarter, compared to analyst estimates 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 for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Analysts anticipate that MongoDB, Inc. will post -1.86 EPS for the current fiscal year.

Institutional Trading of MongoDB

Hedge funds have recently modified their holdings of the company. Diversified Trust Co lifted its position in MongoDB by 31.0% during the fourth quarter. Diversified Trust Co now owns 6,919 shares of the company’s stock valued at $1,611,000 after acquiring an additional 1,639 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of MongoDB during the fourth quarter worth $624,000. Versant Capital Management Inc lifted its holdings in shares of MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after purchasing an additional 165 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of MongoDB by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after purchasing an additional 160 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in MongoDB by 76.8% during the 3rd quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock worth $2,125,000 after buying an additional 3,415 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDB. Oppenheimer boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Rosenblatt Securities initiated coverage on MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price on the stock. Scotiabank boosted their price target on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average 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.