MongoDB (NASDAQ:MDB) Shares Gap Up After Analyst Upgrade

MongoDB, Inc. (NASDAQ:MDB)’s share price gapped up prior to trading on Wednesday after Robert W. Baird raised their price target on the stock from $305.00 to $380.00. The stock had previously closed at $324.01, but opened at $337.99. Robert W. Baird currently has an outperform rating on the stock. MongoDB shares last traded at $340.37, with a volume of 309,681 shares changing hands.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, August 30th. Citigroup boosted their price target on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Mizuho boosted their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Bank of America upped their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 target price on shares of MongoDB in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $346.96.

Insider Activity at MongoDB

In related news, CRO Cedric Pech sold 302 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. This represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock worth $7,538,819 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of large investors have recently bought and sold shares of MDB. Jennison Associates LLC grew its stake in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after acquiring an additional 592,038 shares in the last quarter. Swedbank AB grew its stake in shares of MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of MongoDB during the 2nd quarter worth approximately $52,131,000. Finally, Avala Global LP bought a new position in shares of MongoDB during the 3rd quarter worth approximately $47,960,000. 89.29% of the stock is owned by institutional investors.

MongoDB Stock Up 5.3 %

The company has a market capitalization of $25.21 billion, a P/E ratio of -113.02 and a beta of 1.17. The firm’s 50 day moving average price is $286.59 and its two-hundred day moving average price is $270.27. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84.

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.