MongoDB, Inc. (NASDAQ:MDB) Sees Significant Drop in Short Interest

MongoDB, Inc. (NASDAQ:MDB) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 1,650,000 shares, a decline of 22.2% from the February 13th total of 2,120,000 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,400,000 shares, the short-interest ratio is presently 0.7 days.

MongoDB Stock Performance

Shares of MongoDB stock traded up $10.37 during trading on Monday, reaching $195.74. The company’s stock had a trading volume of 1,123,059 shares, compared to its average volume of 1,688,619. The business’s fifty day moving average price is $256.72 and its 200-day moving average price is $272.55. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of -71.54 and a beta of 1.30. MongoDB has a one year low of $173.13 and a one year high of $387.19.

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

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the sale, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,314 shares of company stock valued at $11,642,583. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB during the fourth quarter valued at approximately $29,000. Hilltop National Bank boosted its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Brooklyn Investment Group acquired a new stake in MongoDB during the third quarter valued at approximately $36,000. Continuum Advisory LLC boosted its holdings in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. Finally, NCP Inc. acquired a new stake in MongoDB during the fourth quarter valued at approximately $35,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company downgraded shares of MongoDB from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $365.00 to $225.00 in a report on Thursday, March 6th. Truist Financial cut their price target on shares of MongoDB from $400.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Oppenheimer cut their price target on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald began coverage on shares of MongoDB in a report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price target on the stock. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $240.00 price objective (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $319.87.

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.