MongoDB (NASDAQ:MDB) Sees Unusually-High Trading Volume – Still a Buy?

Shares of MongoDB, Inc. (NASDAQ:MDB) saw an uptick in trading volume on Friday . 1,994,344 shares changed hands 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 Ratings Changes

A number of research firms recently weighed in on MDB. Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $365.00 to $225.00 in a report on Thursday. Piper Sandler lowered their price objective on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial cut their target price on MongoDB from $400.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer lowered their price target on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group cut their price objective on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.61.

MongoDB Trading Down 1.6 %

The firm has a market cap of $14.14 billion, a PE ratio of -68.89 and a beta of 1.30. The stock has a fifty day simple moving average of $262.69 and a two-hundred day simple moving average of $274.71.

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

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the transaction, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,314 shares of company stock valued at $13,337,753 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of MongoDB in the fourth quarter valued at about $13,270,000. Azzad Asset Management Inc. ADV increased its holdings in MongoDB by 17.7% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock valued at $1,750,000 after purchasing an additional 1,132 shares during the period. Infinitum Asset Management LLC purchased a new stake in MongoDB in the 4th quarter worth approximately $8,148,000. Polar Asset Management Partners Inc. bought a new stake in shares of MongoDB in the 4th quarter worth approximately $14,458,000. Finally, Mackenzie Financial Corp increased its stake in shares of MongoDB by 47.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,731 shares of the company’s stock valued at $1,334,000 after buying an additional 1,854 shares during the period. 89.29% of the stock is currently owned by institutional investors.

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.