MongoDB (NASDAQ:MDB) Shares Up 3.3% - Here's What Happened

MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s stock price shot up 3.3% on Thursday . The company traded as high as $217.96 and last traded at $217.54. 350,033 shares changed hands during trading, a decline of 82% from the average session volume of 1,949,819 shares. The stock had previously closed at $210.60.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MDB. KeyCorp lowered shares of MongoDB from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Citigroup lowered their target price on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Stifel Nicolaus cut their price target on MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a report on Friday, April 11th. UBS Group boosted their price objective on MongoDB from $213.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Finally, Rosenblatt Securities dropped their price objective on MongoDB from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.47.

MongoDB Stock Down 2.4%

The business's 50-day simple moving average is $180.65 and its two-hundred day simple moving average is $227.04. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of -75.05 and a beta of 1.39.

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, beating the consensus estimate of $0.65 by $0.35. The business 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 12.22% and a negative net margin of 10.46%. The company'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 earnings per share. Sell-side analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 25,005 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the completion of the sale, the chief executive officer now directly owns 256,974 shares in the company, valued at $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $468,000.00. Following the sale, the director now directly owns 1,107,006 shares of the company's stock, valued at approximately $259,039,404. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,208 shares of company stock valued at $10,167,739. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of MongoDB by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after buying an additional 481,023 shares during the last quarter. Franklin Resources Inc. raised its holdings in MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock valued at $478,398,000 after acquiring an additional 181,962 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in MongoDB by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company's stock valued at $223,011,000 after acquiring an additional 129,451 shares during the last quarter. Geode Capital Management LLC boosted its stake in MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after acquiring an additional 22,106 shares during the last quarter. Finally, Amundi grew its holdings in MongoDB by 53.0% during the 1st quarter. Amundi now owns 1,061,457 shares of the company's stock worth $173,378,000 after acquiring an additional 367,717 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.