MongoDB (NASDAQ:MDB) Shares Down 4.1% – Should You Sell?

MongoDB, Inc. (NASDAQ:MDB) traded down 4.1% on Wednesday . The stock traded as low as $320.68 and last traded at $321.52. 323,661 shares traded hands during trading, a decline of 78% from the average session volume of 1,449,876 shares. The stock had previously closed at $335.40.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wedbush upgraded MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. JMP Securities restated a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a research report on Friday, August 30th. Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price objective on shares of MongoDB in a research report on Friday, August 30th. Sanford C. Bernstein boosted their price objective on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Oppenheimer boosted their price objective on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $340.29.

MongoDB Stock Performance

The firm’s 50 day moving average price is $280.95 and its 200-day moving average price is $271.28. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a market capitalization of $23.74 billion, a PE ratio of -106.46 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same period in the prior year, the company posted ($0.63) EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, research analysts expect that MongoDB, Inc. will post -2.39 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the sale, the director now owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,600 shares of company stock worth $7,034,249. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in MDB. Aigen Investment Management LP purchased a new stake in MongoDB in the third quarter valued at $1,045,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of MongoDB during the 3rd quarter worth approximately $4,366,000. Sanctuary Advisors LLC purchased a new position in shares of MongoDB during the 2nd quarter worth approximately $1,860,000. Sycomore Asset Management increased its stake in shares of MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock worth $12,884,000 after purchasing an additional 24,827 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of MongoDB by 327.6% during the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock worth $3,899,000 after purchasing an additional 8,330 shares in the last quarter. Institutional investors and hedge funds 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.