Rep. Josh Gottheimer Sells Off Shares of MongoDB, Inc. (NASDAQ:MDB)

Posted by Martin Roberts on Nov 8th, 2024

Representative Josh Gottheimer (D-New Jersey) recently sold shares of MongoDB, Inc. (NASDAQ:MDB). In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in MongoDB stock on October 17th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

MongoDB Stock Up 4.7 %

MongoDB stock opened at $294.12 on Friday. The stock’s fifty day moving average is $277.73 and its two-hundred day moving average is $278.07. The stock has a market cap of $21.73 billion, a PE ratio of -97.39 and a beta of 1.15. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results 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 return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same period in the prior year, the company posted ($0.63) earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that MongoDB, Inc. will post -2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in MDB. Tidemark LLC increased its position in MongoDB by 542.5% during the third quarter. Tidemark LLC now owns 681 shares of the company’s stock worth $184,000 after purchasing an additional 575 shares during the last quarter. Swiss National Bank increased its stake in MongoDB by 1.1% during the third quarter. Swiss National Bank now owns 217,700 shares of the company’s stock worth $58,855,000 after acquiring an additional 2,300 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of MongoDB by 51.5% in the 3rd quarter. Natixis Advisors LLC now owns 18,304 shares of the company’s stock worth $4,948,000 after purchasing an additional 6,221 shares during the period. CIBC Asset Management Inc lifted its stake in shares of MongoDB by 4.6% in the 3rd quarter. CIBC Asset Management Inc now owns 14,717 shares of the company’s stock valued at $3,979,000 after purchasing an additional 653 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in shares of MongoDB by 18.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,005 shares of the company’s stock worth $272,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

MDB has been the subject of a number of research reports. Citigroup boosted their price target on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price objective on MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research report on Friday, August 30th. Finally, Sanford C. Bernstein upped their price target on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $337.96.

View Our Latest Research Report on MDB

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the transaction, the director now owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $269.57, for a total transaction of $808,710.00. Following the sale, the director now directly owns 1,127,006 shares in the company, valued at approximately $303,807,007.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 1,385 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $287.82, for a total transaction of $398,630.70. Following the completion of the sale, the director now directly owns 89,063 shares of the company’s stock, valued at $25,634,112.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,281 shares of company stock valued at $6,657,121. 3.60% of the stock is currently owned by corporate insiders.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About MongoDB

(Get Free Report)

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.