MongoDB, Inc. (NASDAQ:MDB) Short Interest Up 25.1% in October

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 4,290,000 shares, an increase of 25.1% from the October 15th total of 3,430,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the days-to-cover ratio is currently 3.5 days.

MongoDB Price Performance

NASDAQ:MDB traded down $11.82 during trading hours on Friday, hitting $279.77. The company's stock had a trading volume of 1,763,926 shares, compared to its average volume of 1,432,002. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. 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 business's 50-day moving average is $278.14 and its two-hundred day moving average is $275.57. The company has a market capitalization of $20.67 billion, a PE ratio of -92.64 and a beta of 1.15.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $465.03 million. During the same quarter last year, the firm posted ($0.63) EPS. The business's revenue was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate that MongoDB will post -2.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the sale, the director now owns 1,127,006 shares of the company's stock, valued at $303,807,007.42. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the 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 directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,281 shares of company stock worth $6,657,121 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently bought and sold shares of MDB. MFA Wealth Advisors LLC acquired a new position in MongoDB during the second quarter worth about $25,000. J.Safra Asset Management Corp raised its position in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company's stock worth $33,000 after purchasing an additional 116 shares during the last quarter. Quarry LP lifted its stake in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company's stock valued at $33,000 after buying an additional 129 shares in the last quarter. Brooklyn Investment Group purchased a new stake in MongoDB in the 3rd quarter valued at approximately $36,000. Finally, Hantz Financial Services Inc. acquired a new stake in MongoDB during the 2nd quarter valued at $35,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDB has been the subject of several analyst reports. DA Davidson upped their price objective on MongoDB from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. UBS Group increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, August 30th. Wells Fargo & Company boosted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an "overweight" rating in a research report on Friday, August 30th. Sanford C. Bernstein increased their target price on shares of 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 target on shares of MongoDB from $300.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $336.54.

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.