MongoDB (NASDAQ:MDB) Trading 4.9% Higher – What’s Next?

Shares of MongoDB, Inc. (NASDAQ:MDB) traded up 4.9% during trading on Wednesday . The company traded as high as $273.33 and last traded at $272.17. 667,942 shares traded hands during trading, a decline of 54% from the average session volume of 1,446,957 shares. The stock had previously closed at $259.46.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Mizuho increased their target price on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. UBS Group raised their price objective on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. DA Davidson increased their price target on MongoDB from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company increased their target price on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. 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 report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $337.56.

MongoDB Price Performance

The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of -97.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The company has a fifty day simple moving average of $262.41 and a two-hundred day simple moving average of $288.60.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same quarter last year, the business posted ($0.63) EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total value of $462,000.00. Following the completion of the transaction, the director now directly owns 1,140,006 shares in the company, valued at approximately $263,341,386. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares of the company’s stock, valued at $289,820,287.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now owns 1,140,006 shares of the company’s stock, valued at approximately $263,341,386. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,896 shares of company stock valued at $4,187,260. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Large investors have recently added to or reduced their stakes in the business. CWM LLC boosted its holdings in MongoDB by 5.0% in the third quarter. CWM LLC now owns 3,269 shares of the company’s stock worth $884,000 after acquiring an additional 156 shares in the last quarter. Fulton Bank N.A. grew its position in MongoDB by 5.6% in the 3rd quarter. Fulton Bank N.A. now owns 1,199 shares of the company’s stock valued at $324,000 after purchasing an additional 64 shares during the period. Diversified Trust Co raised its holdings in MongoDB by 10.1% during the third quarter. Diversified Trust Co now owns 5,280 shares of the company’s stock worth $1,427,000 after buying an additional 486 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of MongoDB by 22.5% in the third quarter. Azzad Asset Management Inc. ADV now owns 6,387 shares of the company’s stock valued at $1,727,000 after buying an additional 1,173 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.