MongoDB (NASDAQ:MDB) Shares Down 8% - Time to Sell?

Key Points

• MongDB shares fell 8% during trading, closing at $209.67 after a high of $227.86, with total volume surpassing the average by 19%.
• Analyst ratings for MongoDB show a consensus average rating of "Moderate Buy", with price targets ranging from $190.00 to $345.00.
• Despite a negative P/E ratio, MongoDB reported a quarterly revenue of $549.01 million, exceeding expectations and representing a 21.8% increase year-over-year.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) shares traded down 8% during mid-day trading on Friday . The company traded as low as $209.15 and last traded at $209.67. 2,732,732 shares were traded during trading, an increase of 19% from the average session volume of 2,299,152 shares. The stock had previously closed at $227.86.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MDB shares. Wedbush restated an "outperform" rating and issued a $300.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Cantor Fitzgerald increased their price target on shares of MongoDB from $252.00 to $271.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. JMP Securities restated a "market outperform" rating and set a $345.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Stephens started coverage on shares of MongoDB in a research report on Friday, July 18th. They issued an "equal weight" rating and a $247.00 target price for the company. Finally, Loop Capital lowered MongoDB from a "buy" rating to a "hold" rating and reduced their price target for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. Nine research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $281.31.

MongoDB Stock Down 8.2%

The company has a market cap of $17.09 billion, a P/E ratio of -183.49 and a beta of 1.44. The company has a fifty day moving average of $214.82 and a 200 day moving average of $211.90.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The company had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. As a group, research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

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 transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares of the company's stock, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the sale, the director directly owned 1,104,316 shares in the company, valued at approximately $270,557,420. The trade was a 0.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,416 shares of company stock valued at $11,936,656 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MDB. Jericho Capital Asset Management L.P. purchased a new stake in shares of MongoDB during the 1st quarter valued at about $161,543,000. Primecap Management Co. CA increased its stake in MongoDB by 863.5% during the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after acquiring an additional 780,200 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in MongoDB during the first quarter valued at approximately $128,706,000. Vanguard Group Inc. lifted its stake in shares of MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after purchasing an additional 481,023 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of MongoDB in the 4th quarter worth approximately $110,356,000. 89.29% of the stock is 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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