MongoDB, Inc. (NASDAQ:MDB) Short Interest Update

MongoDB, Inc. (NASDAQ:MDB – Get Rating) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 3,570,000 shares, a drop of 14.4% from the February 13th total of 4,170,000 shares. Based on an average daily volume of 2,000,000 shares, the short-interest ratio is currently 1.8 days.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 14,095 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $206.95, for a total transaction of $2,916,960.25. Following the transaction, the director now directly owns 1,227,954 shares of the company’s stock, valued at $254,125,080.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MongoDB news, Director Dwight A. Merriman sold 14,095 shares of MongoDB stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $206.95, for a total value of $2,916,960.25. Following the sale, the director now owns 1,227,954 shares of the company’s stock, valued at $254,125,080.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $207.86, for a total transaction of $8,314,400.00. Following the completion of the sale, the chief executive officer now directly owns 190,264 shares in the company, valued at approximately $39,548,275.04. The disclosure for this sale can be found here. Insiders have sold 112,169 shares of company stock valued at $22,836,007 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently made changes to their positions in MDB. Rockefeller Capital Management L.P. grew its position in MongoDB by 22.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,725 shares of the company’s stock worth $536,000 after acquiring an additional 493 shares during the last quarter. Cravens & Co Advisors LLC bought a new position in shares of MongoDB in the fourth quarter worth approximately $342,000. National Pension Service increased its stake in shares of MongoDB by 24.4% in the fourth quarter. National Pension Service now owns 114,778 shares of the company’s stock worth $22,593,000 after buying an additional 22,516 shares during the period. Truist Financial Corp raised its holdings in MongoDB by 25.2% during the 4th quarter. Truist Financial Corp now owns 4,982 shares of the company’s stock valued at $981,000 after buying an additional 1,002 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in MongoDB by 5.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 35,039 shares of the company’s stock valued at $6,897,000 after buying an additional 1,759 shares during the period. 84.86% of the stock is currently owned by institutional investors.

MongoDB Price Performance

MDB opened at $194.08 on Monday. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 1.66. MongoDB has a 12-month low of $135.15 and a 12-month high of $471.96. The stock has a 50-day moving average price of $207.75 and a 200-day moving average price of $201.66.

Wall Street Analysts Forecast Growth

Several analysts have commented on MDB shares. Barclays lowered their price objective on shares of MongoDB from $264.00 to $257.00 and set an “overweight” rating on the stock in a research report on Thursday. Oppenheimer reduced their target price on shares of MongoDB from $320.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday. JMP Securities lifted their target price on shares of MongoDB from $215.00 to $245.00 and gave the stock a “market outperform” rating in a research note on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $235.00 target price on shares of MongoDB in a research note on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $270.00 target price on shares of MongoDB in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.87.

About MongoDB

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.