Mongodb (MDB) Shares Up 5.6%

Mongodb Inc (NASDAQ:MDB) shares shot up 5.6% on Wednesday . The stock traded as high as $75.48 and last traded at $73.95. 937,220 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 817,869 shares. The stock had previously closed at $70.06.

MDB has been the subject of several recent analyst reports. Zacks Investment Research downgraded Mongodb from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Citigroup upped their price target on Mongodb from $56.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 11th. Barclays upped their price target on Mongodb from $79.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 17th. They noted that the move was a valuation call. BTIG Research initiated coverage on Mongodb in a research note on Wednesday, September 12th. They set a “neutral” rating for the company. Finally, Nomura downgraded Mongodb from a “neutral” rating to a “reduce” rating and upped their price target for the stock from $43.00 to $63.00 in a research note on Tuesday, October 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $77.92.

The company has a market cap of $3.86 billion and a price-to-earnings ratio of -43.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.74 and a quick ratio of 3.74.

Mongodb (NASDAQ:MDB) last announced its earnings results on Wednesday, September 5th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.04. Mongodb had a negative return on equity of 52.67% and a negative net margin of 57.74%. The firm had revenue of $57.50 million during the quarter, compared to the consensus estimate of $51.75 million. The business’s revenue was up 61.5% on a year-over-year basis. As a group, equities analysts forecast that Mongodb Inc will post -2.27 earnings per share for the current year.

In other Mongodb news, CEO Dev Ittycheria sold 63,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $84.11, for a total value of $5,349,396.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Meagen Eisenberg sold 46,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $72.44, for a total value of $3,350,350.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 336,283 shares of company stock valued at $26,869,879. 40.04% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the business. UBS Group AG raised its holdings in shares of Mongodb by 267.4% in the 1st quarter. UBS Group AG now owns 5,052 shares of the company’s stock worth $219,000 after buying an additional 3,677 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Mongodb by 144.7% in the 2nd quarter. OppenheimerFunds Inc. now owns 411,490 shares of the company’s stock worth $20,423,000 after buying an additional 243,350 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of Mongodb by 587.8% in the 2nd quarter. Whale Rock Capital Management LLC now owns 3,830,271 shares of the company’s stock worth $190,096,000 after buying an additional 3,273,409 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Mongodb in the 2nd quarter worth approximately $1,951,000. Finally, FMR LLC raised its holdings in shares of Mongodb by 7,986.7% in the 2nd quarter. FMR LLC now owns 2,268,485 shares of the company’s stock worth $112,585,000 after buying an additional 2,240,433 shares in the last quarter. Institutional investors own 48.69% of the company’s stock.

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Mongodb Company Profile (NASDAQ:MDB)

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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