MongoDB, Inc. (NASDAQ:MDB) Sees Significant Decline in Short Interest

MongoDB, Inc. (NASDAQ:MDB) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 1,650,000 shares, a decrease of 22.2% from the February 13th total of 2,120,000 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,400,000 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

MDB has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on shares of MongoDB from $425.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Oppenheimer decreased their price objective on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Tigress Financial increased their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Piper Sandler decreased their price objective on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, UBS Group set a $350.00 price objective on shares of MongoDB in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $319.87.

MongoDB Price Performance

Shares of MDB traded up $0.31 during mid-day trading on Wednesday, hitting $188.99. 203,942 shares of the company’s stock were exchanged, compared to its average volume of 1,687,096. The company has a market cap of $14.07 billion, a PE ratio of -68.94 and a beta of 1.30. MongoDB has a 52 week low of $173.13 and a 52 week high of $387.19. The company has a 50-day simple moving average of $254.38 and a 200 day simple moving average of $271.46.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share 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 business had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the business earned $0.86 earnings per share. On average, analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity

In other news, CAO Thomas Bull sold 169 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the sale, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This represents a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Lawrence Gordon sold 1,245 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $291,442.05. Following the completion of the sale, the chief financial officer now directly owns 79,062 shares in the company, valued at approximately $18,507,623.58. The trade was a 1.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,139 shares of company stock worth $11,328,869. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Janney Montgomery Scott LLC bought a new position in MongoDB during the third quarter worth $861,000. Principal Financial Group Inc. boosted its position in MongoDB by 2.7% during the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after purchasing an additional 160 shares during the period. Atria Investments Inc boosted its position in MongoDB by 6.6% during the third quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock worth $588,000 after purchasing an additional 135 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of MongoDB by 38.0% during the third quarter. GSA Capital Partners LLP now owns 1,598 shares of the company’s stock worth $432,000 after buying an additional 440 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its holdings in shares of MongoDB by 5.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock worth $322,000 after buying an additional 59 shares in the last quarter. 89.29% of the stock is owned by 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.