MongoDB, Inc. (NASDAQ:MDB) Short Interest Up 25.1% in October

MongoDB, Inc. (NASDAQ:MDB) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 4,290,000 shares, a growth of 25.1% from the October 15th total of 3,430,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is presently 3.5 days.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the transaction, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at $4,589,041.58. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Lawrence Gordon sold 1,884 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $482,775.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at $20,578,668.75. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,281 shares of company stock worth $6,657,121 over the last 90 days. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its holdings in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares in the last quarter. Swedbank AB raised its stake in MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares during the period. Clearbridge Investments LLC boosted its stake in shares of MongoDB by 109.0% in the 1st quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after purchasing an additional 232,101 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of MongoDB in the 2nd quarter worth about $52,131,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Down 3.1 %

Shares of NASDAQ MDB opened at $291.59 on Friday. MongoDB has a one year low of $212.74 and a one year high of $509.62. The business has a fifty day simple moving average of $278.11 and a 200 day simple moving average of $275.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter in the prior year, the company posted ($0.63) EPS. The business’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that MongoDB will post -2.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on MDB. Morgan Stanley upped their target price on MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. UBS Group boosted their target price on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Bank of America increased their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, DA Davidson boosted their price target on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $334.25.

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.