MongoDB, Inc. (NASDAQ:MDB) Short Interest Up 84.2% in March

MongoDB, Inc. (NASDAQ:MDB) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 3,040,000 shares, an increase of 84.2% from the February 28th total of 1,650,000 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wedbush decreased their target price on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. UBS Group set a $350.00 price objective on shares of MongoDB in a report on Tuesday, March 4th. Robert W. Baird cut their price objective on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. DA Davidson boosted their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Macquarie cut their price target on MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $320.70.

MongoDB Trading Down 5.6 %

MDB stock opened at $178.03 on Monday. The company has a market capitalization of $14.45 billion, a P/E ratio of -64.97 and a beta of 1.30. The business has a 50 day simple moving average of $245.56 and a 200-day simple moving average of $265.95. MongoDB has a twelve month low of $173.13 and a twelve month high of $387.19.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data 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). The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the business posted $0.86 earnings per share. Research analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In other news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Thomas Bull sold 169 shares of the company’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 $39,561.21. Following the completion of the transaction, the chief accounting officer now directly owns 14,899 shares in the company, valued at approximately $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,139 shares of company stock valued at $11,328,869 over the last quarter. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the company. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of MongoDB in the 4th quarter worth about $606,000. Geode Capital Management LLC lifted its holdings in shares of MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $3,515,000. Nisa Investment Advisors LLC increased its stake in shares of MongoDB by 428.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock worth $1,340,000 after purchasing an additional 4,665 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after purchasing an additional 372 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.