MongoDB (NASDAQ:MDB) Shares Gap Up to $366.13

MongoDB, Inc. (NASDAQ:MDB) shares gapped up before the market opened on Friday . The stock had previously closed at $366.13, but opened at $382.44. MongoDB shares last traded at $380.18, with a volume of 333,939 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MDB. JMP Securities restated a “market outperform” rating and set a $440.00 target price on shares of MongoDB in a research report on Monday, January 22nd. DA Davidson raised shares of MongoDB from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $405.00 to $430.00 in a research report on Friday, March 8th. Truist Financial boosted their price objective on shares of MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Redburn Atlantic reissued a “sell” rating and issued a $295.00 price objective (down previously from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. Finally, Tigress Financial boosted their price objective on shares of MongoDB from $495.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $443.86.

MongoDB Trading Up 4.8 %

The firm has a market capitalization of $27.95 billion, a price-to-earnings ratio of -147.63 and a beta of 1.19. The business’s 50-day moving average price is $381.23 and its 200 day moving average price is $390.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.32). The company had revenue of $458.00 million during the quarter, compared to analyst estimates of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. On average, equities analysts forecast that MongoDB, Inc. will post -2.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $404.20, for a total transaction of $404,200.00. Following the completion of the transaction, the director now owns 527,896 shares in the company, valued at $213,375,563.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Dev Ittycheria sold 33,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $405.77, for a total transaction of $13,390,410.00. Following the completion of the transaction, the chief executive officer now owns 198,166 shares in the company, valued at approximately $80,409,817.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $404.20, for a total transaction of $404,200.00. Following the sale, the director now directly owns 527,896 shares of the company’s stock, valued at $213,375,563.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,802 shares of company stock valued at $35,936,911. Company insiders own 4.80% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in MongoDB by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after buying an additional 194,148 shares during the last quarter. Jennison Associates LLC increased its holdings in MongoDB by 3.3% in the fourth quarter. Jennison Associates LLC now owns 3,856,857 shares of the company’s stock worth $1,576,876,000 after buying an additional 122,893 shares during the last quarter. Norges Bank acquired a new position in MongoDB in the fourth quarter worth approximately $326,237,000. First Trust Advisors LP increased its holdings in MongoDB by 59.3% in the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after buying an additional 204,284 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in MongoDB by 5.5% in the third quarter. Northern Trust Corp now owns 448,035 shares of the company’s stock worth $154,957,000 after buying an additional 23,270 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.