MongoDB (NASDAQ:MDB – Get Rating) had its price objective increased by The Goldman Sachs Group from $420.00 to $440.00 in a research report sent to investors on Friday morning, The Fly reports.
A number of other brokerages also recently issued reports on MDB. Guggenheim downgraded MongoDB from a neutral rating to a sell rating and raised their price objective for the stock from $205.00 to $210.00 in a research report on Thursday, May 25th. They noted that the move was a valuation call. Robert W. Baird raised their price objective on MongoDB from $390.00 to $430.00 in a research report on Friday. JMP Securities raised their price objective on MongoDB from $245.00 to $370.00 in a research report on Friday, June 2nd. Needham & Company LLC raised their price objective on MongoDB from $250.00 to $430.00 in a research report on Friday, June 2nd. Finally, KeyCorp raised their target price on MongoDB from $229.00 to $264.00 and gave the company an overweight rating in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $349.87.
MongoDB Stock Up 0.4 %
Shares of MDB opened at $389.99 on Friday. MongoDB has a 52-week low of $135.15 and a 52-week high of $398.89. The company has a market capitalization of $27.31 billion, a PE ratio of -83.51 and a beta of 1.04. The stock has a fifty day simple moving average of $295.63 and a two-hundred day simple moving average of $238.15. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.44.
Insider Buying and Selling
In related news, Director Hope F. Cochran sold 2,174 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $373.19, for a total transaction of $811,315.06. Following the completion of the sale, the director now owns 8,200 shares in the company, valued at $3,060,158. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Hope F. Cochran sold 2,174 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $373.19, for a total transaction of $811,315.06. Following the completion of the sale, the director now owns 8,200 shares in the company, valued at $3,060,158. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Thomas Bull sold 605 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $228.34, for a total value of $138,145.70. Following the sale, the chief accounting officer now owns 17,706 shares of the company’s stock, valued at approximately $4,042,988.04. The disclosure for this sale can be found here. Insiders sold a total of 108,856 shares of company stock worth $27,327,511 over the last 90 days. 4.80% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in MDB. 1832 Asset Management L.P. increased its position in MongoDB by 3,283,771.0% during the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after buying an additional 1,017,969 shares during the period. Price T Rowe Associates Inc. MD increased its position in MongoDB by 13.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock worth $1,770,313,000 after buying an additional 897,911 shares during the period. Renaissance Technologies LLC increased its position in MongoDB by 493.2% during the fourth quarter. Renaissance Technologies LLC now owns 918,200 shares of the company’s stock worth $180,738,000 after buying an additional 763,400 shares during the period. Norges Bank acquired a new position in MongoDB during the fourth quarter worth approximately $147,735,000. Finally, Champlain Investment Partners LLC acquired a new position in MongoDB during the first quarter worth approximately $89,157,000. Institutional investors and hedge funds own 89.22% of the company’s stock.
About MongoDB
MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.
Further Reading
- Get a free research report on MongoDB from StockNews.com
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