MongoDB (NASDAQ:MDB) Stock Price Down 1.4% on Insider Selling

MongoDB, Inc. (NASDAQ:MDB)’s stock price was down 1.4% on Tuesday after an insider sold shares in the company. The stock traded as low as $318.21 and last traded at $318.96. Approximately 1,926,443 shares changed hands during trading, a decline of 24% from the average daily volume of 2,518,483 shares. The stock had previously closed at $323.59.

Specifically, Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $320.80, for a total value of $1,924,800.00. Following the sale, the director directly owned 514,896 shares in the company, valued at $165,178,636.80. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 25,000 shares of the company’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $320.15, for a total value of $8,003,750.00. Following the completion of the sale, the director owned 1,079,316 shares in the company, valued at $345,543,017.40. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total value of $384,989.82. Following the sale, the director directly owned 24,308 shares in the company, valued at $7,971,322.44. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analysts Set New Price Targets

MDB has been the topic of several recent research reports. Morgan Stanley upped their price objective on MongoDB from $255.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. The Goldman Sachs Group upped their price objective on MongoDB from $325.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Sanford C. Bernstein upped their price objective on MongoDB from $319.00 to $338.00 and gave the company an “outperform” rating in a research report on Wednesday, August 27th. Guggenheim increased their target price on MongoDB from $310.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Scotiabank increased their target price on MongoDB from $280.00 to $320.00 and gave the stock a “sector perform” rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $336.83.

MongoDB Stock Down 1.4%

The firm has a market cap of $25.95 billion, a price-to-earnings ratio of -325.47 and a beta of 1.49. The business has a 50 day moving average price of $262.23 and a 200-day moving average price of $213.58.

Institutional Investors Weigh In On MongoDB

Large investors have recently modified their holdings of the stock. Cloud Capital Management LLC acquired a new stake in shares of MongoDB in the first quarter valued at about $25,000. Hollencrest Capital Management acquired a new stake in MongoDB during the 1st quarter valued at approximately $26,000. Cullen Frost Bankers Inc. grew its stake in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. Montag A & Associates Inc. grew its stake in MongoDB by 144.3% during the 2nd quarter. Montag A & Associates Inc. now owns 171 shares of the company’s stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. Finally, Promus Capital LLC acquired a new stake in MongoDB during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.