MongoDB (NASDAQ:MDB) Sets New 1-Year Low After Insider Selling

MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s stock price hit a new 52-week low during trading on Monday after an insider sold shares in the company. The stock traded as low as $140.78 and last traded at $141.13, with a volume of 442325 shares traded. The stock had previously closed at $154.39.

Specifically, CFO Srdjan Tanjga sold 525 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the sale, the chief financial officer now directly owns 6,406 shares in the company, valued at approximately $1,109,903.56. This represents a 7.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the sale, the insider now directly owns 57,634 shares of the company's stock, valued at approximately $9,985,666.84. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other MongoDB news, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDB. Loop Capital cut their target price on MongoDB from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus lowered their price objective on MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a research report on Friday. Wells Fargo & Company lowered MongoDB from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. Citigroup lowered their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Royal Bank of Canada cut their price objective on shares of MongoDB from $400.00 to $320.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and an average target price of $310.74.

MongoDB Stock Up 0.7 %

The firm has a market capitalization of $13.17 billion, a PE ratio of -59.21 and a beta of 1.49. The stock has a 50-day moving average price of $220.46 and a 200 day moving average price of $256.10.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly 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 company had revenue of $548.40 million during the quarter, compared to analysts' expectations 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 posted $0.86 EPS. As a group, equities analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. B.O.S.S. Retirement Advisors LLC purchased a new position in MongoDB during the fourth quarter worth about $606,000. Geode Capital Management LLC raised its position in shares of MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after buying an additional 34,814 shares during the period. Union Bancaire Privee UBP SA acquired a new position in MongoDB in the fourth quarter valued at approximately $3,515,000. HighTower Advisors LLC grew its position in MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock worth $4,371,000 after acquiring an additional 372 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in MongoDB by 428.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company's stock worth $1,340,000 after acquiring an additional 4,665 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

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.