Mongodb Inc (MDB) Major Shareholder Whale Rock Capital Management Sells 683,871 Shares of Stock

Mongodb Inc (NASDAQ:MDB) major shareholder Whale Rock Capital Management sold 683,871 shares of the firm’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $82.39, for a total transaction of $56,344,131.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of MDB stock opened at $84.98 on Tuesday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -48.84 and a beta of -0.63. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 1.01. Mongodb Inc has a 1-year low of $24.62 and a 1-year high of $86.18.

Mongodb (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, September 5th. The company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.04. The company had revenue of $57.50 million during the quarter, compared to analyst estimates of $51.75 million. Mongodb had a negative net margin of 57.74% and a negative return on equity of 52.67%. The firm’s quarterly revenue was up 61.5% on a year-over-year basis. Equities analysts forecast that Mongodb Inc will post -2.27 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MDB. UBS Group AG lifted its position in shares of Mongodb by 267.4% in the 1st quarter. UBS Group AG now owns 5,052 shares of the company’s stock worth $219,000 after buying an additional 3,677 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Mongodb in the 2nd quarter worth about $385,000. BP PLC bought a new position in shares of Mongodb in the 2nd quarter worth about $738,000. Wells Fargo & Company MN lifted its position in shares of Mongodb by 53.1% in the 2nd quarter. Wells Fargo & Company MN now owns 729,133 shares of the company’s stock worth $36,188,000 after buying an additional 252,799 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Mongodb in the 2nd quarter worth about $865,000. 50.44% of the stock is owned by institutional investors.

MDB has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Mongodb from $57.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, August 15th. Morgan Stanley raised their price target on shares of Mongodb from $41.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, August 30th. Needham & Company LLC raised their price target on shares of Mongodb from $57.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 4th. Stifel Nicolaus raised their price target on shares of Mongodb from $53.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $88.00 price target (up from $62.00) on shares of Mongodb in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $77.92.

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About Mongodb

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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