MongoDB (NASDAQ:MDB) Hits New 52-Week Low After Insider Selling

MongoDB, Inc. (NASDAQ:MDBGet Free Report) shares reached a new 52-week low on Friday following insider selling activity. The company traded as low as $223.91 and last traded at $224.01, with a volume of 120771 shares changing hands. The stock had previously closed at $229.88.

Specifically, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $379.15, for a total value of $379,150.00. Following the sale, the director now directly owns 522,896 shares of the company’s stock, valued at $198,256,018.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Dwight A. Merriman sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $341.12, for a total transaction of $1,364,480.00. Following the completion of the transaction, the director now directly owns 1,156,784 shares in the company, valued at approximately $394,602,158.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $379.15, for a total transaction of $379,150.00. Following the completion of the sale, the director now directly owns 522,896 shares of the company’s stock, valued at $198,256,018.40. The disclosure for this sale can be found here. Insiders sold a total of 48,802 shares of company stock valued at $16,982,551 in the last quarter. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of MongoDB from $455.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. Wells Fargo & Company decreased their price objective on MongoDB from $450.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Piper Sandler cut their target price on MongoDB from $480.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. Truist Financial decreased their price target on shares of MongoDB from $475.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Barclays dropped their price objective on shares of MongoDB from $458.00 to $290.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $364.11.

View Our Latest Research Report on MongoDB

MongoDB Stock Down 1.2 %

The stock has a market cap of $16.53 billion, a price-to-earnings ratio of -80.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.40 and a current ratio of 4.93. The firm’s 50-day simple moving average is $340.78 and its two-hundred day simple moving average is $385.06.

MongoDB (NASDAQ:MDBGet Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The company had revenue of $458.00 million during the quarter, compared to analyst estimates of $431.99 million. On average, sell-side analysts expect that MongoDB, Inc. will post -2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in MongoDB in the fourth quarter valued at about $25,000. Blue Trust Inc. boosted its stake in shares of MongoDB by 937.5% in the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after purchasing an additional 75 shares during the last quarter. Huntington National Bank grew its position in shares of MongoDB by 279.3% during the 3rd quarter. Huntington National Bank now owns 110 shares of the company’s stock worth $38,000 after buying an additional 81 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of MongoDB during the first quarter worth approximately $41,000. Finally, Parkside Financial Bank & Trust lifted its holdings in MongoDB by 38.3% in the third quarter. Parkside Financial Bank & Trust now owns 130 shares of the company’s stock valued at $45,000 after buying an additional 36 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Company Profile

(Get Free Report)

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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