MongoDB (NASDAQ:MDB) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reissued a "sell (E+)" rating for MongoDB's stock, indicating a negative outlook from analysts.
• Despite the sell rating, other analysts have given MongoDB varied ratings, with two recommending a Strong Buy and an average target price of $342.69.
• Mongodb's stock recently traded at $329.85, up 0.9%, with significant insider transactions indicating a decrease in ownership by some directors.

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "sell (e+)" rating reissued by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

MDB has been the subject of several other reports. Robert W. Baird lifted their target price on MongoDB from $260.00 to $335.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Rosenblatt Securities reiterated a "buy" rating and set a $290.00 target price on shares of MongoDB in a research report on Friday, August 22nd. Truist Financial lifted their target price on MongoDB from $330.00 to $375.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Sanford C. Bernstein lifted their target price on MongoDB from $319.00 to $338.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Finally, Wall Street Zen upgraded MongoDB from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $342.69.

MongoDB Trading Up 0.9%

Shares of MDB stock traded up $3.07 on Wednesday, reaching $329.85. The company's stock had a trading volume of 214,215 shares, compared to its average volume of 2,463,993. The stock's fifty day simple moving average is $281.87 and its 200-day simple moving average is $223.26. MongoDB has a 1 year low of $140.78 and a 1 year high of $370.00. The company has a market capitalization of $26.84 billion, a price-to-earnings ratio of -336.58 and a beta of 1.50.

Insider Transactions at MongoDB

In other news, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total transaction of $384,989.82. Following the completion of the transaction, the director directly owned 24,308 shares of the company's stock, valued at $7,971,322.44. This represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles M. Hazard, Jr. sold 166 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total value of $51,460.00. Following the transaction, the director directly owned 14,493 shares of the company's stock, valued at approximately $4,492,830. The trade was a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,163 shares of company stock valued at $31,862,322 over the last quarter. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in MongoDB during the 1st quarter valued at about $25,000. Hollencrest Capital Management acquired a new stake in MongoDB in the 1st quarter valued at about $26,000. Cullen Frost Bankers Inc. raised its position in MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. Montag A & Associates Inc. raised its position in MongoDB by 144.3% in the 2nd quarter. Montag A & Associates Inc. now owns 171 shares of the company's stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. Finally, Promus Capital LLC acquired a new stake in MongoDB in the 2nd quarter valued at about $36,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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