MongoDB, Inc. (NASDAQ:MDB – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Friday after Barclays lowered their price target on the stock from $458.00 to $290.00. Barclays currently has an overweight rating on the stock. MongoDB traded as low as $225.25 and last traded at $228.57, with a volume of 2559554 shares. The stock had previously closed at $310.00.
A number of other analysts have also issued reports on MDB. Robert W. Baird cut their price target on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating on the stock in a research note on Friday. Redburn Atlantic reaffirmed a “sell” rating and set a $295.00 target price (down from $410.00) on shares of MongoDB in a research note on Tuesday, March 19th. Needham & Company LLC decreased their price target on shares of MongoDB from $465.00 to $290.00 and set a “buy” rating for the company in a research report on Friday. Piper Sandler cut their price objective on MongoDB from $480.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Truist Financial reduced their price objective on MongoDB from $475.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $374.29.
Insider Transactions at MongoDB
In other MongoDB news, CEO Dev Ittycheria sold 17,160 shares of MongoDB stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total value of $5,973,567.60. Following the completion of the sale, the chief executive officer now owns 226,073 shares in the company, valued at approximately $78,698,272.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other MongoDB news, CRO Cedric Pech sold 1,430 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total transaction of $497,797.30. Following the completion of the sale, the executive now directly owns 45,444 shares in the company, valued at $15,819,510.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 17,160 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total value of $5,973,567.60. Following the sale, the chief executive officer now owns 226,073 shares of the company’s stock, valued at approximately $78,698,272.03. The disclosure for this sale can be found here. Insiders have sold 46,802 shares of company stock worth $16,514,071 over the last quarter. 3.60% of the stock is currently owned by insiders.
Institutional Trading of MongoDB
A number of institutional investors have recently added to or reduced their stakes in MDB. Quadrant Capital Group LLC boosted its stake in shares of MongoDB by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 412 shares of the company’s stock valued at $168,000 after purchasing an additional 22 shares during the period. EverSource Wealth Advisors LLC grew its stake in MongoDB by 12.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 226 shares of the company’s stock valued at $92,000 after purchasing an additional 25 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in MongoDB by 2.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 1,070 shares of the company’s stock worth $370,000 after purchasing an additional 30 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of MongoDB by 3.9% in the 4th quarter. Yousif Capital Management LLC now owns 792 shares of the company’s stock valued at $324,000 after purchasing an additional 30 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its stake in shares of MongoDB by 5.9% during the 4th quarter. Valley National Advisers Inc. now owns 597 shares of the company’s stock valued at $244,000 after buying an additional 33 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.
MongoDB Price Performance
The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40. The business’s 50-day moving average price is $355.70 and its two-hundred day moving average price is $391.76. The firm has a market cap of $17.19 billion, a price-to-earnings ratio of -93.84 and a beta of 1.19.
MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.32). MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. The company had revenue of $458.00 million during the quarter, compared to the consensus estimate of $431.99 million. On average, research analysts forecast that MongoDB, Inc. will post -2.53 EPS for the current fiscal year.
About MongoDB
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.