MongoDB, Inc. (NASDAQ:MDB) Short Interest Up 84.2% in March

MongoDB, Inc. (NASDAQ:MDB) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,040,000 shares, a growth of 84.2% from the February 28th total of 1,650,000 shares. Based on an average trading volume of 2,160,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 4.2% of the company’s shares are short sold.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $10.61 during trading on Friday, hitting $178.03. 2,906,042 shares of the company were exchanged, compared to its average volume of 1,733,041. The firm’s 50 day moving average price is $245.56 and its 200-day moving average price is $266.17. MongoDB has a 12-month low of $173.13 and a 12-month high of $387.19. The stock has a market capitalization of $14.45 billion, a P/E ratio of -64.97 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period last year, the firm earned $0.86 earnings per share. As a group, equities research analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the sale, the director now owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,139 shares of company stock worth $11,328,869 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MDB. Vanguard Group Inc. boosted its holdings in shares of MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after acquiring an additional 23,942 shares during the period. Franklin Resources Inc. grew its position in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Geode Capital Management LLC increased its stake in MongoDB by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares during the period. First Trust Advisors LP boosted its stake in shares of MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after buying an additional 95,893 shares during the period. Finally, Norges Bank purchased a new position in shares of MongoDB during the fourth quarter worth about $189,584,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MDB. Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Monday, January 6th. Wedbush lowered their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Citigroup reiterated a “buy” rating on shares of MongoDB in a report on Thursday, March 6th. Macquarie lowered their target price on MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Truist Financial dropped their target price on MongoDB from $400.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.70.

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.