MongoDB (NASDAQ:MDB) Sees Large Volume Increase – Still a Buy?

Shares of MongoDB, Inc. (NASDAQ:MDB) saw unusually-strong trading volume on Friday . Approximately 1,994,344 shares were traded during trading, an increase of 20% from the previous session’s volume of 1,657,288 shares.The stock last traded at $185.47 and had previously closed at $192.98.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MDB shares. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a report on Wednesday, December 11th. Citigroup lifted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Barclays dropped their price target on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Piper Sandler dropped their price target on MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $319.87.

MongoDB Stock Down 2.8 %

The firm has a 50 day simple moving average of $261.68 and a 200-day simple moving average of $274.38. The stock has a market cap of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the prior year, the company earned $0.86 EPS. On average, equities analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,314 shares of company stock valued at $13,337,753. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently added to or reduced their stakes in MDB. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB during the fourth quarter worth approximately $29,000. Hilltop National Bank boosted its holdings in shares of MongoDB by 47.2% in the 4th 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. NCP Inc. acquired a new stake in shares of MongoDB in the 4th quarter valued at $35,000. Brooklyn Investment Group acquired a new stake in shares of MongoDB in the 3rd quarter valued at $36,000. Finally, Continuum Advisory LLC boosted its holdings in shares of MongoDB by 621.1% in the 3rd 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. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.