Rep. Josh Gottheimer Sells Off Shares of MongoDB, Inc. (NASDAQ:MDB)

Representative Josh Gottheimer (D-New Jersey) recently sold shares of MongoDB, Inc. (NASDAQ:MDB). In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in MongoDB stock on October 17th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

MongoDB Stock Up 4.7 %

MDB stock opened at $294.12 on Friday. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The firm has a market cap of $21.73 billion, a PE ratio of -97.39 and a beta of 1.15. The firm has a 50 day simple moving average of $277.73 and a 200 day simple moving average of $278.07. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the previous year, the business earned ($0.63) earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $290.40, for a total value of $290,400.00. Following the completion of the transaction, the director now directly owns 1,138,006 shares of the company’s stock, valued at approximately $330,476,942.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total transaction of $872,370.00. Following the completion of the sale, the director now directly owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $290.40, for a total transaction of $290,400.00. Following the sale, the director now directly owns 1,138,006 shares of the company’s stock, valued at approximately $330,476,942.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,281 shares of company stock valued at $6,657,121 in the last ninety days. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America upped their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. DA Davidson increased their price target on shares of MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. UBS Group increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Mizuho increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Morgan Stanley increased their price target on shares of MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $337.96.

Institutional Trading of MongoDB

Institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in MongoDB during the 2nd quarter valued at about $1,860,000. Sycomore Asset Management lifted its holdings in MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after purchasing an additional 24,827 shares during the last quarter. Cetera Investment Advisers lifted its holdings in MongoDB by 327.6% during the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock valued at $3,899,000 after purchasing an additional 8,330 shares during the last quarter. SG Americas Securities LLC lifted its holdings in MongoDB by 179.7% during the 1st quarter. SG Americas Securities LLC now owns 7,142 shares of the company’s stock valued at $2,561,000 after purchasing an additional 4,589 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in MongoDB by 147.3% during the 1st quarter. Toronto Dominion Bank now owns 24,047 shares of the company’s stock valued at $8,624,000 after purchasing an additional 14,323 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.