Macquarie Cuts MongoDB (NASDAQ:MDB) Price Target to $215.00

MongoDB (NASDAQ:MDB) had its price objective reduced by Macquarie from $300.00 to $215.00 in a report issued on Friday,Benzinga reports. Macquarie currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on MDB. DA Davidson lifted their price objective on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Robert W. Baird lowered their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday. Bank of America lowered their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday. Wedbush decreased their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Oppenheimer cut their price objective on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a report 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. According to MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $319.87.

MongoDB Trading Down 2.8 %

NASDAQ MDB opened at $187.65 on Friday. The company has a fifty day simple moving average of $261.68 and a 200 day simple moving average of $274.47. MongoDB has a 12-month low of $181.05 and a 12-month high of $387.19. The company has a market cap of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30.

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

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 169 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the transaction, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This represents a 1.12 % 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, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total value of $1,339,250.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,314 shares of company stock worth $12,981,833. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in MongoDB during the fourth quarter worth about $13,270,000. Azzad Asset Management Inc. ADV grew its holdings in MongoDB by 17.7% in the fourth 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 acquired a new stake in MongoDB in the fourth quarter valued at approximately $8,148,000. Polar Asset Management Partners Inc. acquired a new stake in MongoDB in the fourth quarter valued at approximately $14,458,000. Finally, Mackenzie Financial Corp grew its holdings in MongoDB by 47.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,731 shares of the company’s stock valued at $1,334,000 after purchasing an additional 1,854 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.