Hope Cochran Sells 1,566 Shares of MongoDB (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) Director Hope Cochran sold 1,566 shares of MongoDB stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the sale, the director owned 24,093 shares of the company’s stock, valued at $6,007,107.69. This trade represents a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $253.12 on Friday. The company’s 50 day moving average price is $308.71 and its two-hundred day moving average price is $346.63. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $444.72. The firm has a market cap of $20.34 billion, a PE ratio of -287.64 and a beta of 1.60.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. On average, research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in MongoDB by 5.0% in the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock valued at $2,788,981,000 after buying an additional 431,382 shares in the last quarter. ValueAct Holdings L.P. raised its stake in MongoDB by 206.8% during the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after acquiring an additional 1,427,700 shares in the last quarter. State Street Corp lifted its holdings in shares of MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after acquiring an additional 40,219 shares during the last quarter. Amundi lifted its holdings in shares of MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after acquiring an additional 563,995 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of MongoDB by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after purchasing an additional 9,693 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised MongoDB from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Sanford C. Bernstein cut MongoDB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 3rd. Oppenheimer dropped their price target on MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Bank of America reaffirmed a “buy” rating on shares of MongoDB in a research report on Tuesday, March 3rd. Finally, Raymond James Financial began coverage on shares of MongoDB in a research note on Monday, December 15th. They set a “market perform” rating on the stock. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $360.03.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.