MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s stock price dropped 5.2% during trading on Thursday . The company traded as low as $205.55 and last traded at $205.93. Approximately 924,866 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,965,656 shares. The stock had previously closed at $217.12.
Wall Street Analyst Weigh In
MDB has been the topic of a number of research analyst reports. Monness Crespi & Hardt upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 target price on the stock in a research report on Thursday, June 5th. Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 target price on the stock in a research report on Thursday, April 17th. Loop Capital downgraded MongoDB from a "buy" rating to a "hold" rating and decreased their target price for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. Citigroup decreased their target price on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $320.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.39.
View Our Latest Research Report on MDB
MongoDB Price Performance
The firm has a fifty day moving average price of $199.07 and a two-hundred day moving average price of $213.69. The stock has a market capitalization of $16.55 billion, a PE ratio of -177.64 and a beta of 1.41.
MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. MongoDB's revenue was up 21.8% compared to the same quarter last year. On average, research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the transaction, the director owned 21,096 shares of the company's stock, valued at $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 25,005 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the transaction, the chief executive officer directly owned 256,974 shares in the company, valued at approximately $60,131,916. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,746 shares of company stock valued at $7,500,196 over the last quarter. 3.10% of the stock is owned by corporate insiders.
Institutional Trading of MongoDB
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB during the 4th quarter valued at $29,000. Cloud Capital Management LLC bought a new stake in MongoDB during the 1st quarter valued at $25,000. Hollencrest Capital Management bought a new stake in MongoDB during the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its position in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after acquiring an additional 120 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its position in MongoDB by 364.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock valued at $54,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 89.29% of the company's stock.
About MongoDB
(
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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