MongoDB (NASDAQ:MDB) Sees Unusually-High Trading Volume - Should You Buy?

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) shares saw strong trading volume on Thursday . 1,003,819 shares traded hands during mid-day trading, a decline of 30% from the previous session's volume of 1,442,082 shares.The stock last traded at $271.09 and had previously closed at $278.39.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Tigress Financial cut their price target on shares of MongoDB from $500.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. Oppenheimer raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an "outperform" rating in a research note on Friday, August 30th. JMP Securities restated a "market outperform" rating and set a $380.00 target price on shares of MongoDB in a research note on Friday, August 30th. Piper Sandler raised their target price on shares of MongoDB from $300.00 to $335.00 and gave the stock an "overweight" rating in a research note on Friday, August 30th. Finally, Morgan Stanley raised their target price on shares of MongoDB from $320.00 to $340.00 and gave the stock an "overweight" rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and an average price target of $337.96.

MongoDB Stock Down 2.3 %

The stock has a market cap of $19.94 billion, a price-to-earnings ratio of -96.66 and a beta of 1.15. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The stock's 50-day moving average price is $268.79 and its 200-day moving average price is $286.09.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. MongoDB's revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.63) EPS. On average, sell-side analysts expect that MongoDB, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CRO Cedric Pech sold 302 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the sale, the executive now owns 33,440 shares in the company, valued at approximately $8,569,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CRO Cedric Pech sold 302 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the sale, the executive now owns 33,440 shares in the company, valued at $8,569,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the completion of the sale, the director now owns 1,135,006 shares of the company's stock, valued at approximately $330,048,394.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,281 shares of company stock worth $6,310,411. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MFA Wealth Advisors LLC purchased a new stake in MongoDB during the second quarter valued at about $25,000. J.Safra Asset Management Corp lifted its holdings in MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company's stock valued at $33,000 after purchasing an additional 116 shares during the last quarter. Quarry LP lifted its holdings in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company's stock valued at $33,000 after purchasing an additional 129 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in MongoDB during the second quarter valued at about $35,000. Finally, GAMMA Investing LLC lifted its holdings in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company's stock valued at $39,000 after purchasing an additional 93 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.