MongoDB (NASDAQ:MDB) Shares Gap Up to $366.13

MongoDB, Inc. (NASDAQ:MDB)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $366.13, but opened at $382.44. MongoDB shares last traded at $380.18, with a volume of 333,939 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MDB shares. Citigroup increased their price objective on MongoDB from $515.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. KeyCorp decreased their price objective on MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Loop Capital started coverage on MongoDB in a report on Tuesday, April 23rd. They issued a “buy” rating and a $415.00 price objective for the company. Truist Financial increased their price objective on MongoDB from $440.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Finally, Redburn Atlantic restated a “sell” rating and issued a $295.00 target price (down from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $443.86.

MongoDB Price Performance

The business has a 50-day moving average price of $379.60 and a 200 day moving average price of $390.90. The company has a market cap of $27.95 billion, a price-to-earnings ratio of -154.76 and a beta of 1.19. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). The business had revenue of $458.00 million during the quarter, compared to analysts’ expectations of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. As a group, research analysts expect that MongoDB, Inc. will post -2.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $365.00, for a total value of $730,000.00. Following the transaction, the director now directly owns 1,154,784 shares of the company’s stock, valued at $421,496,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $365.00, for a total value of $730,000.00. Following the transaction, the director now directly owns 1,154,784 shares of the company’s stock, valued at $421,496,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the transaction, the chief accounting officer now directly owns 17,360 shares in the company, valued at $6,043,363.20. The disclosure for this sale can be found here. Insiders sold 91,802 shares of company stock worth $35,936,911 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC increased its position in MongoDB by 74.7% during the third quarter. Exchange Traded Concepts LLC now owns 3,370 shares of the company’s stock worth $1,166,000 after buying an additional 1,441 shares during the last quarter. Oak Thistle LLC acquired a new position in MongoDB during the third quarter worth $259,000. Handelsbanken Fonder AB increased its position in MongoDB by 1.0% during the third quarter. Handelsbanken Fonder AB now owns 33,735 shares of the company’s stock worth $11,668,000 after buying an additional 346 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in MongoDB by 1.3% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 15,100 shares of the company’s stock worth $5,222,000 after buying an additional 200 shares during the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in MongoDB during the third quarter worth $251,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.