MongoDB, Inc. (NASDAQ:MDB – Get Free Report) rose 7.4% on Tuesday . The stock traded as high as $285.10 and last traded at $284.28. Approximately 819,510 shares changed hands during trading, a decline of 43% from the average daily volume of 1,427,558 shares. The stock had previously closed at $264.58.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on MDB. Citigroup increased their target price on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Royal Bank of Canada raised their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Monday, January 6th. Monness Crespi & Hardt downgraded shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a research report on Monday, December 16th. Finally, Wedbush raised shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $361.00.
Read Our Latest Stock Report on MongoDB
MongoDB Price Performance
MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. Sell-side analysts predict that MongoDB, Inc. will post -1.79 EPS for the current fiscal year.
Insider Activity
In other news, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,156 shares of company stock valued at $9,220,473. 3.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On MongoDB
Hedge funds and other institutional investors have recently made changes to their positions in the company. Hilltop National Bank raised its stake in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Quarry LP increased its holdings in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the period. Brooklyn Investment Group bought a new position in shares of MongoDB in the 3rd quarter worth $36,000. Continuum Advisory LLC lifted its stake in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.
MongoDB Company Profile
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.
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