MongoDB, Inc. (NASDAQ:MDB) Short Interest Update

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

MongoDB Trading Down 2.3 %

Shares of MDB stock traded down $4.37 during trading on Tuesday, reaching $188.68. 1,332,411 shares of the company’s stock traded hands, compared to its average volume of 1,692,932. The company has a market capitalization of $14.05 billion, a P/E ratio of -68.86 and a beta of 1.30. The firm’s 50-day moving average is $255.53 and its 200 day moving average is $272.18. MongoDB has a 1 year low of $173.13 and a 1 year high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the previous year, the company posted $0.86 earnings per share. As a group, sell-side analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDB has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada dropped their target price on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Tigress Financial boosted their target price on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Oppenheimer dropped their target price 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. Finally, Macquarie dropped their target price on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $319.87.

Insider Buying and Selling at MongoDB

In other news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $237.73, for a total transaction of $713,190.00. Following the transaction, the director now owns 1,117,006 shares in the company, valued at approximately $265,545,836.38. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,139 shares of company stock worth $11,328,869 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of MDB. Vanguard Group Inc. increased its holdings in shares of MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after buying an additional 23,942 shares during the last quarter. Jennison Associates LLC grew its holdings 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 valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of MongoDB by 12.6% during the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after purchasing an additional 95,893 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

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.