Short Interest in MongoDB, Inc. (NASDAQ:MDB) Drops By 22.2%

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 1,650,000 shares, a drop of 22.2% from the February 13th total of 2,120,000 shares. Approximately 2.3% of the company's stock are sold short. Based on an average daily volume of 2,400,000 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on MongoDB from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Truist Financial dropped their price objective on MongoDB from $400.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Robert W. Baird dropped their price objective on MongoDB from $390.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada dropped their price objective on MongoDB from $400.00 to $320.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Barclays dropped their price objective on MongoDB from $330.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $320.70.

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MongoDB Price Performance

Shares of MDB traded up $3.21 on Friday, hitting $192.51. The company's stock had a trading volume of 572,147 shares, compared to its average volume of 1,690,457. The company has a market capitalization of $14.34 billion, a PE ratio of -70.28 and a beta of 1.30. MongoDB has a fifty-two week low of $173.13 and a fifty-two week high of $387.19. The company has a 50 day moving average price of $252.02 and a 200 day moving average price of $270.33.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the firm earned $0.86 earnings per share. On average, equities analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company's stock, valued at $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. 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 business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares of the company's stock, valued at $300,130,293.78. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,139 shares of company stock valued at $11,328,869. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. B.O.S.S. Retirement Advisors LLC acquired a new position in MongoDB during the 4th quarter worth $606,000. Geode Capital Management LLC lifted its holdings in MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock worth $331,776,000 after buying an additional 34,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MongoDB during the 3rd quarter worth $4,366,000. Charles Schwab Investment Management Inc. lifted its holdings in MongoDB by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company's stock worth $75,271,000 after buying an additional 7,575 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in MongoDB during the 4th quarter worth $3,515,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.