MongoDB, Inc. (NASDAQ:MDB) Director Sells $2,249,700.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $374.95, for a total value of $2,249,700.00. Following the sale, the director now directly owns 1,148,784 shares of the company’s stock, valued at $430,736,560.80. The transaction was disclosed in a document filed with the SEC, which is available through this link.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $362.85 on Friday. The company has a 50 day moving average price of $371.56 and a two-hundred day moving average price of $390.88. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07. MongoDB, Inc. has a 52 week low of $226.10 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.32). The firm had revenue of $458.00 million during the quarter, compared to analyst estimates of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. As a group, analysts forecast that MongoDB, Inc. will post -2.53 EPS for the current year.

Institutional Investors Weigh In On MongoDB

Several large investors have recently modified their holdings of the business. TFB Advisors LLC acquired a new position in shares of MongoDB in the 1st quarter valued at approximately $321,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in MongoDB by 55.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,374 shares of the company’s stock worth $493,000 after buying an additional 491 shares during the period. Central Pacific Bank Trust Division bought a new position in MongoDB in the first quarter valued at approximately $1,078,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of MongoDB by 5.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 13,932 shares of the company’s stock valued at $4,996,000 after buying an additional 736 shares during the period. Finally, Whittier Trust Co. increased its position in shares of MongoDB by 4.2% during the first quarter. Whittier Trust Co. now owns 28,380 shares of the company’s stock worth $10,178,000 after acquiring an additional 1,139 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDB. Guggenheim raised their target price on MongoDB from $250.00 to $272.00 and gave the company a “sell” rating in a research note on Monday, March 4th. JMP Securities restated a “market outperform” rating and issued a $440.00 price objective on shares of MongoDB in a research report on Monday, January 22nd. Tigress Financial upped their target price on shares of MongoDB from $495.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Truist Financial raised their price target on shares of MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $295.00 price objective (down previously from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $443.86.

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.