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

MongoDB, Inc. (NASDAQ:MDB) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,670,000 shares, an increase of 16.1% from the October 15th total of 3,160,000 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 3.0 days.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $395.01, for a total transaction of $395,010.00. Following the completion of the sale, the director now owns 535,896 shares of the company’s stock, valued at approximately $211,684,278.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Thomas Bull sold 518 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $342.41, for a total transaction of $177,368.38. Following the completion of the sale, the chief accounting officer now owns 16,672 shares of the company’s stock, valued at approximately $5,708,659.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $395.01, for a total transaction of $395,010.00. Following the sale, the director now directly owns 535,896 shares of the company’s stock, valued at approximately $211,684,278.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 289,484 shares of company stock worth $101,547,167. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently bought and sold shares of MDB. Raymond James & Associates boosted its stake in MongoDB by 32.0% during the first quarter. Raymond James & Associates now owns 4,922 shares of the company’s stock worth $2,183,000 after buying an additional 1,192 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in MongoDB by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock worth $569,000 after buying an additional 206 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in MongoDB during the first quarter worth $1,823,000. Panagora Asset Management Inc. lifted its holdings in shares of MongoDB by 9.8% during the first quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock valued at $877,000 after acquiring an additional 176 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of MongoDB by 100.3% during the first quarter. Vontobel Holding Ltd. now owns 2,873 shares of the company’s stock valued at $1,236,000 after acquiring an additional 1,439 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley upped their target price on shares of MongoDB from $440.00 to $480.00 and gave the stock an “overweight” rating in a research report on Friday, September 1st. Tigress Financial upped their price target on MongoDB from $490.00 to $495.00 and gave the company a “buy” rating in a report on Friday, October 6th. Canaccord Genuity Group increased their price target on MongoDB from $410.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, September 5th. Needham & Company LLC upped their price objective on shares of MongoDB from $430.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, September 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $430.00 price objective on shares of MongoDB in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $416.65.

MongoDB Trading Up 5.2 %

Shares of MongoDB stock opened at $397.77 on Wednesday. The company’s fifty day simple moving average is $353.58 and its 200-day simple moving average is $354.17. The company has a debt-to-equity ratio of 1.29, a quick ratio of 4.48 and a current ratio of 4.48. MongoDB has a 1 year low of $137.70 and a 1 year high of $439.00.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 31st. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.07. The business had revenue of $423.79 million for the quarter, compared to the consensus estimate of $389.93 million. MongoDB had a negative net margin of 16.21% and a negative return on equity of 29.69%. As a group, sell-side analysts expect that MongoDB will post -2.17 earnings per share for the current fiscal year.

MongoDB Company Profile

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.