MongoDB (NASDAQ:MDB) Cut to “Hold” at KeyCorp

KeyCorp downgraded shares of MongoDB (NASDAQ:MDB) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

MDB has been the topic of a number of other reports. The Goldman Sachs Group dropped their price target on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Thursday. Loop Capital decreased their price target on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Tigress Financial upped their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities reissued a “buy” rating and set a $350.00 target price on shares of MongoDB in a research report on Tuesday. Finally, Piper Sandler cut their price target on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.87.

MongoDB Stock Down 2.8 %

Shares of MDB stock opened at $187.65 on Wednesday. The firm has a 50 day moving average of $261.68 and a 200-day moving average of $274.23. The company has a market cap of $13.97 billion, a price-to-earnings ratio of -68.49 and a beta of 1.30. MongoDB has a 52 week low of $181.05 and a 52 week high of $411.50.

MongoDB (NASDAQ:MDB) last posted 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). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same quarter in the previous year, the business posted $0.86 earnings per share. Analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Transactions at MongoDB

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

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently bought and sold shares of MDB. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB during the 4th quarter valued at $29,000. Hilltop National Bank boosted its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the period. NCP Inc. purchased a new position in MongoDB during the fourth quarter worth about $35,000. Brooklyn Investment Group bought a new position in MongoDB in the 3rd quarter worth about $36,000. Finally, Continuum Advisory LLC raised its holdings in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other 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.