MongoDB (NASDAQ:MDB) Director Hope F. Cochran Sells 1,174 Shares

Key Points

• Director Hope Cochran sold 1,174 shares of MongoDB at an average price of $327.93, reflecting a 4.61% decrease in their position.
• MongoDB stock recently increased by 2.3%, closing at $323.43, with a market cap of $26.31 billion.
• Equities analysts have raised MongoDB's price targets, with BMO Capital Markets setting a new target of $365.00 and Guggenheim raising theirs to $400.00.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total transaction of $384,989.82. Following the sale, the director owned 24,308 shares of the company's stock, valued at approximately $7,971,322.44. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

MongoDB Stock Performance

Shares of MongoDB stock traded up $7.13 on Friday, reaching $323.43. The stock had a trading volume of 3,033,722 shares, compared to its average volume of 4,094,820. The business's 50-day moving average price is $257.58 and its two-hundred day moving average price is $212.13. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The stock has a market cap of $26.31 billion, a P/E ratio of -330.03 and a beta of 1.49.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MDB shares. Macquarie boosted their target price on shares of MongoDB from $265.00 to $305.00 and gave the stock a "neutral" rating in a research report on Thursday. Piper Sandler boosted their price target on shares of MongoDB from $345.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday. UBS Group boosted their price target on shares of MongoDB from $310.00 to $330.00 and gave the company a "neutral" rating in a report on Thursday. Zacks Research raised shares of MongoDB to a "hold" rating in a report on Friday, August 8th. Finally, Needham & Company LLC upped their target price on shares of MongoDB from $325.00 to $365.00 and gave the stock a "buy" rating in a report on Friday. One 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $335.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new stake in shares of MongoDB during the first quarter worth about $25,000. Hollencrest Capital Management bought a new position in shares of MongoDB during the 1st quarter worth approximately $26,000. Cullen Frost Bankers Inc. raised its position in shares of MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after purchasing an additional 120 shares during the period. Montag A & Associates Inc. raised its position in shares of MongoDB by 144.3% during the second quarter. Montag A & Associates Inc. now owns 171 shares of the company's stock worth $36,000 after purchasing an additional 101 shares during the period. Finally, Promus Capital LLC purchased a new stake in MongoDB in the 2nd quarter valued at $36,000. Institutional investors and hedge funds 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.