Key Points
- MongoDB director Dwight Merriman sold 10,000 shares on May 14 at an average price of $297.99, totaling about $2.98 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- MongoDB shares rose 5.7% to open at $330.00, and the company now has a market value of about $26.52 billion. Its stock has traded between a 52-week low of $182.43 and a high of $444.72.
- In its latest quarterly report, MongoDB beat earnings and revenue estimates, posting $1.65 EPS on $695.07 million in revenue. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $364.23.
MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Dwight Merriman sold 6,000 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $314.98, for a total transaction of $1,889,880.00. Following the transaction, the director owned 470,896 shares of the company's stock, valued at $148,322,822.08. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MongoDB Stock Up 5.7%
MDB stock opened at $330.00 on Tuesday. MongoDB, Inc. has a 52 week low of $182.43 and a 52 week high of $444.72. The company has a fifty day simple moving average of $263.75 and a two-hundred day simple moving average of $335.69. The firm has a market capitalization of $26.52 billion, a P/E ratio of -375.00 and a beta of 1.48.
MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the company earned $1.28 EPS. As a group, analysts anticipate that MongoDB, Inc. will post -0.46 EPS for the current year.
Institutional Investors Weigh In On MongoDB
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Cramer Rosenthal Mcglynn LLC raised its holdings in shares of MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company's stock valued at $17,938,000 after purchasing an additional 52,002 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MongoDB by 1,277.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company's stock valued at $5,655,000 after purchasing an additional 16,896 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of MongoDB by 42.1% in the 3rd quarter. Penserra Capital Management LLC now owns 135,036 shares of the company's stock valued at $41,910,000 after purchasing an additional 39,978 shares in the last quarter. Pinegrove Venture Partners LLC bought a new stake in shares of MongoDB in the 3rd quarter valued at about $1,032,000. Finally, Kinetic Partners Management LP raised its holdings in shares of MongoDB by 27.2% in the 3rd quarter. Kinetic Partners Management LP now owns 195,769 shares of the company's stock valued at $60,763,000 after purchasing an additional 41,810 shares in the last quarter. Institutional investors own 89.29% of the company's stock.
Wall Street Analysts Forecast Growth
MDB has been the subject of several analyst reports. Zacks Research lowered MongoDB from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 31st. The Goldman Sachs Group lowered their price objective on MongoDB from $475.00 to $320.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Citigroup lifted their price target on shares of MongoDB from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Cantor Fitzgerald dropped their price target on shares of MongoDB from $454.00 to $378.00 and set an "overweight" rating for the company in a research note on Tuesday, March 3rd. Finally, Weiss Ratings cut shares of MongoDB from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, April 29th. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, MongoDB has a consensus rating of "Moderate Buy" and an average target price of $364.23.
View Our Latest Report on MongoDB
MongoDB Company Profile
(
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MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.
The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.
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