MongoDB (NASDAQ:MDB) Sets New 52-Week Low Following Insider Selling

MongoDB, Inc. (NASDAQ:MDB) hit a new 52-week low on Monday after an insider sold shares in the company. The stock traded as low as $140.78 and last traded at $141.13, with a volume of 442325 shares. The stock had previously closed at $154.39.

Specifically, CFO Srdjan Tanjga sold 525 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. This trade represents a 7.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the transaction, the insider now owns 57,634 shares in the company, valued at $9,985,666.84. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

MDB has been the topic of several research reports. China Renaissance started coverage on MongoDB in a report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective on the stock. Needham & Company LLC cut their price target on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Daiwa Capital Markets initiated coverage on MongoDB in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 price objective for the company. Canaccord Genuity Group dropped their price objective on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Oppenheimer reduced their target price on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Seven equities research 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. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $312.84.

MongoDB Trading Down 1.0 %

The company has a market cap of $11.84 billion, a P/E ratio of -53.23 and a beta of 1.49. The business has a 50 day moving average price of $228.92 and a 200-day moving average price of $259.09.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period last year, the company posted $0.86 earnings per share. On average, sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors boosted its stake in shares of MongoDB by 19.0% during the 3rd quarter. Captrust Financial Advisors now owns 1,445 shares of the company’s stock worth $391,000 after acquiring an additional 231 shares during the period. HighTower Advisors LLC boosted its position in MongoDB by 6.1% during the third quarter. HighTower Advisors LLC now owns 18,401 shares of the company’s stock worth $4,986,000 after purchasing an additional 1,065 shares during the period. Morse Asset Management Inc acquired a new position in shares of MongoDB in the third quarter valued at $81,000. Weiss Asset Management LP acquired a new position in shares of MongoDB in the third quarter valued at $217,000. Finally, National Bank of Canada FI raised its position in shares of MongoDB by 113.2% in the third quarter. National Bank of Canada FI now owns 15,441 shares of the company’s stock valued at $4,174,000 after purchasing an additional 8,198 shares during the period. Institutional investors own 89.29% of the company’s stock.

About MongoDB

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.