MongoDB (NASDAQ:MDB) Shares Down 5.2% - Time to Sell?

MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s share price was down 5.2% during trading on Thursday . The stock traded as low as $205.55 and last traded at $205.93. Approximately 924,866 shares traded 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.

Analysts Set New Price Targets

MDB has been the topic of several recent analyst reports. Wolfe Research initiated coverage on MongoDB in a research note on Wednesday. They issued an "outperform" rating and a $280.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Citigroup decreased their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Daiwa America upgraded MongoDB to a "strong-buy" rating in a research note on Tuesday, April 1st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $345.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $282.39.

MongoDB Trading Down 1.8%

The company has a 50-day moving average price of $197.71 and a two-hundred day moving average price of $214.60. The stock has a market capitalization of $17.42 billion, a P/E ratio of -187.10 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same period in the previous year, the company posted $0.51 EPS. The firm's revenue was up 21.8% compared to the same quarter last year. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares of the company's stock, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 3,747 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the sale, the chief executive officer directly owned 253,227 shares of the company's stock, valued at $52,177,423.35. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,746 shares of company stock valued at $7,500,196 in the last three months. Corporate insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in shares of MongoDB in the 1st quarter worth approximately $25,000. Hollencrest Capital Management purchased a new position in shares of MongoDB in the 1st quarter worth approximately $26,000. Cullen Frost Bankers Inc. boosted its stake in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after buying an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB in the 4th quarter worth approximately $29,000. Finally, Coppell Advisory Solutions LLC boosted its stake in shares of MongoDB by 364.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.