Dwight Merriman Sells 25,000 Shares of MongoDB (NASDAQ:MDB) Stock

Key Points

• Dwight Merriman, a director at MongoDB, sold 25,000 shares of the company's stock for approximately $8 million, reducing his ownership by 2.26% to over 1 million shares valued at around $345 million.
• MongoDB's current market capitalization stands at $25.96 billion, with stock price fluctuations noted, including a recent drop to $319.09.
• Analysts have increased target prices for MongoDB, with Oppenheimer raising it from $325 to $385, reflecting optimism with a consensus rating of "Moderate Buy."

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Dwight Merriman sold 25,000 shares of the firm's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $320.15, for a total value of $8,003,750.00. Following the sale, the director directly owned 1,079,316 shares of the company's stock, valued at approximately $345,543,017.40. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

MongoDB Price Performance

Shares of MDB traded down $4.50 during trading hours on Tuesday, hitting $319.09. 1,915,346 shares of the company were exchanged, compared to its average volume of 2,516,500. The company has a market capitalization of $25.96 billion, a PE ratio of -325.60 and a beta of 1.49. The firm has a fifty day simple moving average of $260.02 and a 200-day simple moving average of $212.85. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00.

Wall Street Analyst Weigh In

Several analysts have recently commented on MDB shares. Oppenheimer raised their target price on MongoDB from $325.00 to $385.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Macquarie raised their target price on MongoDB from $265.00 to $305.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Robert W. Baird raised their target price on MongoDB from $260.00 to $335.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Monness Crespi & Hardt raised their target price on MongoDB from $295.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Finally, Stifel Nicolaus lifted their price objective on MongoDB from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and a consensus target price of $336.83.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently added to or reduced their stakes in the stock. Daventry Group LP boosted its holdings in shares of MongoDB by 6.3% in the 2nd quarter. Daventry Group LP now owns 151,161 shares of the company's stock worth $31,742,000 after acquiring an additional 9,000 shares in the last quarter. Centaurus Financial Inc. boosted its holdings in shares of MongoDB by 11.0% in the 2nd quarter. Centaurus Financial Inc. now owns 3,019 shares of the company's stock worth $634,000 after acquiring an additional 300 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of MongoDB by 14.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 8,339 shares of the company's stock worth $1,751,000 after acquiring an additional 1,047 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of MongoDB in the 2nd quarter worth approximately $1,727,000. Finally, Promus Capital LLC acquired a new position in shares of MongoDB in the 2nd quarter worth approximately $36,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.

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