MongoDB (NASDAQ:MDB) Stock Price Up 7.5%

MongoDB, Inc. (NASDAQ:MDB) traded up 7.5% during trading on Tuesday . The company traded as high as $366.93 and last traded at $365.70. 1,150,812 shares traded hands during trading, a decline of 16% from the average session volume of 1,377,160 shares. The stock had previously closed at $340.16.

Analyst Upgrades and Downgrades

MDB has been the subject of a number of research analyst reports. UBS Group reaffirmed a “neutral” rating and set a $410.00 price objective (down from $475.00) on shares of MongoDB in a report on Thursday, January 4th. Stifel Nicolaus reiterated a “buy” rating and set a $435.00 target price on shares of MongoDB in a research report on Thursday, March 14th. Truist Financial lifted their price objective on MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Redburn Atlantic restated a “sell” rating and set a $295.00 price target (down previously from $410.00) on shares of MongoDB in a research note on Tuesday, March 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $465.00 target price on shares of MongoDB in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $443.86.

MongoDB Stock Up 7.7 %

The company has a market capitalization of $26.68 billion, a price-to-earnings ratio of -145.25 and a beta of 1.20. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07. The business has a fifty day simple moving average of $387.85 and a two-hundred day simple moving average of $390.73.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.32). The business had revenue of $458.00 million for the quarter, compared to the consensus estimate of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. Equities analysts expect that MongoDB, Inc. will post -2.53 EPS for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $404.20, for a total value of $404,200.00. Following the transaction, the director now directly owns 527,896 shares of the company’s stock, valued at $213,375,563.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MongoDB news, CEO Dev Ittycheria sold 33,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $405.77, for a total value of $13,390,410.00. Following the transaction, the chief executive officer now directly owns 198,166 shares in the company, valued at $80,409,817.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $404.20, for a total transaction of $404,200.00. Following the sale, the director now owns 527,896 shares in the company, valued at $213,375,563.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,802 shares of company stock worth $35,936,911. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of MDB. Jennison Associates LLC lifted its stake in shares of MongoDB by 87.8% in the third quarter. Jennison Associates LLC now owns 3,733,964 shares of the company’s stock worth $1,291,429,000 after buying an additional 1,745,231 shares in the last quarter. Norges Bank purchased a new stake in shares of MongoDB in the fourth quarter worth $326,237,000. Axiom Investors LLC DE purchased a new stake in shares of MongoDB in the fourth quarter worth $153,990,000. Clearbridge Investments LLC grew its stake in MongoDB by 10,827.8% during the fourth quarter. Clearbridge Investments LLC now owns 212,983 shares of the company’s stock valued at $87,078,000 after acquiring an additional 211,034 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in MongoDB by 59.3% during the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock valued at $224,480,000 after acquiring an additional 204,284 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

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.