MongoDB, Inc. (NASDAQ:MDB) CAO Sells 301 Shares

MongoDB, Inc. (NASDAQ:MDB) CAO Thomas Bull sold 301 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

MongoDB Stock Down 5.5 %

MDB opened at $154.39 on Monday. MongoDB, Inc. has a twelve month low of $146.50 and a twelve month high of $387.19. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of -56.35 and a beta of 1.49. The company has a 50-day simple moving average of $236.68 and a 200 day simple moving average of $261.78.

MongoDB (NASDAQ:MDB) last issued 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 firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period last year, the company posted $0.86 EPS. Sell-side analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in MongoDB in the 4th quarter valued at approximately $189,584,000. Marshall Wace LLP acquired a new position in shares of MongoDB during the fourth quarter worth $110,356,000. Raymond James Financial Inc. bought a new position in shares of MongoDB in the 4th quarter valued at $90,478,000. D1 Capital Partners L.P. acquired a new stake in shares of MongoDB during the 4th quarter valued at $76,129,000. Finally, Amundi grew its position in MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after acquiring an additional 321,186 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company downgraded MongoDB from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Macquarie cut their price target on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Daiwa America upgraded shares of MongoDB to a “strong-buy” rating in a research note on Tuesday, April 1st. Canaccord Genuity Group reduced their price target on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Daiwa Capital Markets began coverage on MongoDB in a research report on Tuesday, April 1st. They set an “outperform” rating and a $202.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.84.

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.