MongoDB (NASDAQ:MDB) Director Charles Hazard Jr Sells 833 Shares

Key Points

• Charles Hazard Jr., a director at MongoDB, sold 833 shares of the company stock for $258,230, reducing his ownership by 1.73%.
• MongoDB's stock price has recently increased, trading at $322.05, with a significant market cap of $26.32 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for MongoDB, with the price targets recently adjusted upwards by various brokerages, including Truist Financial and DA Davidson.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Charles Hazard, Jr. sold 833 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total value of $258,230.00. Following the sale, the director owned 47,366 shares of the company's stock, valued at $14,683,460. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

MongoDB Stock Up 2.9%

Shares of NASDAQ MDB traded up $9.17 during mid-day trading on Thursday, reaching $322.05. 2,747,546 shares of the company were exchanged, compared to its average volume of 2,536,418. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of -328.62 and a beta of 1.49. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The firm has a 50-day moving average of $229.48 and a 200 day moving average of $207.78.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The firm had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same period in the prior year, the business posted $0.51 EPS. The firm's quarterly revenue was up 21.8% on a year-over-year basis. On average, equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDB. William Blair reissued an "outperform" rating on shares of MongoDB in a report on Thursday, June 26th. Truist Financial increased their price objective on MongoDB from $275.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. DA Davidson increased their price objective on MongoDB from $275.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Macquarie increased their price objective on MongoDB from $230.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, August 27th. Finally, Wedbush reissued an "outperform" rating and issued a $300.00 price objective on shares of MongoDB in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $310.86.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. AQR Capital Management LLC boosted its holdings in shares of MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock worth $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in MongoDB in the first quarter valued at $161,543,000. Norges Bank purchased a new stake in MongoDB in the second quarter valued at $164,338,000. Primecap Management Co. CA grew its stake in shares of MongoDB by 863.5% in the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock valued at $152,694,000 after buying an additional 780,200 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of MongoDB by 9.5% in the second quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company's stock valued at $1,796,321,000 after buying an additional 744,547 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

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.

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