MongoDB (NASDAQ:MDB) Shares Gap Down – Time to Sell?

Shares of MongoDB, Inc. (NASDAQ:MDB) gapped down prior to trading on Tuesday . The stock had previously closed at $189.01, but opened at $184.25. MongoDB shares last traded at $187.83, with a volume of 280,277 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays reduced their target price on MongoDB from $280.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday. Stifel Nicolaus dropped their target price on shares of MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Bank of America lowered their target price on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Robert W. Baird dropped their target price on MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group decreased their target price on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $288.91.

MongoDB Stock Down 0.0%

The firm has a fifty day moving average of $174.77 and a 200-day moving average of $238.15. The firm has a market cap of $15.34 billion, a P/E ratio of -68.98 and a beta of 1.49.

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

Insider Buying and Selling at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80. Following the sale, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $58,121,799.12. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 301 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,538 shares of company stock valued at $6,889,905. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC increased its holdings in MongoDB by 3.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock valued at $243,000 after acquiring an additional 39 shares during the last quarter. Avestar Capital LLC increased its holdings in MongoDB by 2.0% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after purchasing an additional 42 shares during the period. Aigen Investment Management LP lifted its stake in MongoDB by 1.4% in the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock worth $913,000 after acquiring an additional 55 shares during the period. Handelsbanken Fonder AB increased its holdings in MongoDB by 0.4% during the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock valued at $2,599,000 after buying an additional 65 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in MongoDB by 2.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock valued at $627,000 after buying an additional 66 shares during the last quarter. 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.