Brokerages Set MongoDB, Inc. (NASDAQ:MDB) Price Target at $340.29

Shares of MongoDB, Inc. (NASDAQ:MDB) have earned a consensus recommendation of “Moderate Buy” from the twenty-six ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $343.83.

MDB has been the topic of several research analyst reports. Morgan Stanley raised their price objective on MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Truist Financial lifted their price objective on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Citigroup upped their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada restated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. Finally, Mizuho upped their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th.

MongoDB Stock Down 0.4 %

Shares of MDB stock opened at $324.01 on Friday. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of -107.29 and a beta of 1.17. The firm’s 50-day moving average is $285.33 and its 200-day moving average is $269.77. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at $23,313,925.17. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,600 shares of company stock valued at $6,569,819 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in MDB. MFA Wealth Advisors LLC bought a new position in MongoDB in the second quarter worth approximately $25,000. J.Safra Asset Management Corp raised its position in shares of MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares during the period. Quarry LP lifted its holdings in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in MongoDB during the 2nd quarter valued at $35,000. Finally, Brooklyn Investment Group bought a new position in shares of MongoDB in the third quarter valued at $36,000. Institutional investors 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.