MongoDB, Inc. (NASDAQ:MDB) Short Interest Down 18.0% in March
by Sarita Garza · The Markets DailyMongoDB, Inc. (NASDAQ:MDB – Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 2,955,047 shares, a drop of 18.0% from the March 15th total of 3,604,266 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 1,365,775 shares, the days-to-cover ratio is currently 2.2 days.
Trending Headlines about MongoDB
Here are the key news stories impacting MongoDB this week:
- Positive Sentiment: Guggenheim reiterated a “Buy” rating on MDB, reinforcing analyst bullishness that can support demand for the shares. Guggenheim Reiterates Buy
- Positive Sentiment: Unusually large call-option buying: traders purchased ~36,130 call contracts (roughly a 2,077% rise versus typical call volume), a strong short-term bullish signal that can lift the stock as hedging and directional bets push demand.
- Positive Sentiment: Analyst consensus and coverage remain favorable—MDB was given an average recommendation of “Moderate Buy,” which supports continued investor interest. Moderate Buy Coverage
- Neutral Sentiment: Insider selling by director Dwight A. Merriman: two small sales (8,000 shares on 4/14 at ~$236.89 and 4,000 shares on 4/16 at ~$252.33) were executed under a pre-arranged Rule 10b5-1 plan, reducing his holdings modestly. Pre-arranged status mutes the negative signal but is still monitored by markets. Form 4
- Negative Sentiment: Large put-option buying: investors also acquired ~23,831 put contracts (about a 2,157% increase versus typical put volume), signaling elevated hedging or downside speculation that could add volatility and selling pressure if sentiment shifts.
Insiders Place Their Bets
In related news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the sale, the director directly owned 24,093 shares of the company’s stock, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 8,000 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $236.89, for a total transaction of $1,895,120.00. Following the sale, the director directly owned 1,005,316 shares of the company’s stock, valued at approximately $238,149,307.24. This trade represents a 0.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 14,756 shares of company stock worth $3,734,893. 3.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On MongoDB
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of MongoDB by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after purchasing an additional 431,382 shares during the last quarter. ValueAct Holdings L.P. increased its position in shares of MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares during the last quarter. State Street Corp increased its position in shares of MongoDB by 2.3% in the 4th quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after purchasing an additional 40,219 shares during the last quarter. Amundi increased its position in shares of MongoDB by 61.3% in the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of MongoDB by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after purchasing an additional 9,693 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on MDB. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price target (down from $400.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of MongoDB from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Royal Bank Of Canada decreased their price target on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Stifel Nicolaus decreased their price target on shares of MongoDB from $450.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Barclays decreased their price target on shares of MongoDB from $440.00 to $370.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.03.
Check Out Our Latest Stock Report on MongoDB
MongoDB Trading Up 2.9%
MDB stock traded up $7.08 during trading on Thursday, reaching $251.14. The stock had a trading volume of 1,488,219 shares, compared to its average volume of 1,488,048. MongoDB has a 1-year low of $148.88 and a 1-year high of $444.72. The company has a market capitalization of $20.18 billion, a P/E ratio of -285.39 and a beta of 1.60. The firm has a fifty day moving average price of $285.05 and a 200 day moving average price of $341.68.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. During the same quarter in the previous year, the business posted $1.28 EPS. The firm’s revenue was up 26.8% compared to the same quarter last year. Sell-side analysts predict that MongoDB will post -1.78 EPS for the current year.
About MongoDB
MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.
The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.