Insider Selling: MongoDB (NASDAQ:MDB) Director Sells 20,000 Shares of Stock

Key Points

• Peter Thomas Killalea, a director at MongoDB, sold 20,000 shares of the company's stock for approximately $6.44 million, reducing his ownership by 38.25%.
• MongoDB's stock price recently reached $315.32, with analysts providing a consensus rating of "Moderate Buy" and a price target of $336.83.
• Institutional investors hold a significant portion of MongoDB's stock, owning 89.29% of the company, with notable increases in holdings by several hedge funds.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) Director Peter Thomas Killalea sold 20,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $321.87, for a total value of $6,437,400.00. Following the transaction, the director directly owned 32,293 shares of the company's stock, valued at approximately $10,394,147.91. The trade was a 38.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

MongoDB Stock Up 0.0%

NASDAQ MDB traded up $0.02 on Thursday, reaching $315.32. 1,238,181 shares of the stock traded hands, compared to its average volume of 2,505,922. The firm's fifty day simple moving average is $264.34 and its 200 day simple moving average is $214.29. The company has a market cap of $25.65 billion, a price-to-earnings ratio of -321.76 and a beta of 1.49. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00.

Institutional Trading of MongoDB

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in shares of MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock worth $233,435,000 after acquiring an additional 1,069,969 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of MongoDB during the first quarter worth $161,543,000. Norges Bank purchased a new stake in shares of MongoDB during the second quarter worth $164,338,000. Primecap Management Co. CA raised its holdings in shares of MongoDB by 863.5% during the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after acquiring an additional 780,200 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of MongoDB by 9.5% during the second quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company's stock worth $1,796,321,000 after acquiring an additional 744,547 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MDB shares. Monness Crespi & Hardt increased their price target on MongoDB from $295.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. William Blair reiterated an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. Royal Bank Of Canada reiterated an "outperform" rating and set a $350.00 price objective on shares of MongoDB in a research report on Thursday, September 18th. Canaccord Genuity Group increased their price objective on MongoDB from $340.00 to $375.00 and gave the company a "buy" rating in a research report on Monday. Finally, Piper Sandler increased their price objective on MongoDB from $345.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $336.83.

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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