MongoDB (NASDAQ:MDB) Shares Down 1% - Should You Sell?

Key Points

• MongoDB's shares fell by 1%, trading between $320.65 and $321.48, with a significant drop in trading volume by 82% compared to the average.
• Analysts have set new price targets for MongoDB, with upgrades from several firms, including Canaccord Genuity raising their target to $340 and Monness Crespi & Hardt increasing it to $360.
• Insider transactions indicate selling activity, with CEO Dev Ittycheria selling over 33,000 shares valued at around $10 million, leading to a notable 14.09% decrease in their ownership.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) shares traded down 1% on Monday . The stock traded as low as $320.65 and last traded at $321.48. 452,600 shares traded hands during trading, a decline of 82% from the average session volume of 2,522,402 shares. The stock had previously closed at $324.74.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MDB. Canaccord Genuity Group boosted their price target on shares of MongoDB from $320.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, August 28th. The Goldman Sachs Group boosted their price objective on MongoDB from $270.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Guggenheim boosted their price objective on MongoDB from $260.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Monness Crespi & Hardt lifted their price objective on shares of MongoDB from $295.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Finally, Macquarie upped their price target on shares of MongoDB from $230.00 to $265.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 27th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $310.86.

MongoDB Trading Down 0.4%

The firm has a market capitalization of $26.31 billion, a price-to-earnings ratio of -331.02 and a beta of 1.49. The firm has a 50 day moving average price of $234.03 and a two-hundred day moving average price of $207.01.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $225.00, for a total value of $225,000.00. Following the transaction, the director owned 1,105,316 shares of the company's stock, valued at $248,696,100. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 33,320 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the transaction, the chief executive officer owned 203,237 shares in the company, valued at $61,233,275.73. The trade was a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,730 shares of company stock valued at $15,966,159 in the last 90 days. Corporate insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Daventry Group LP lifted its position in MongoDB by 6.3% during 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 during the period. Centaurus Financial Inc. raised its stake in MongoDB by 11.0% during the 2nd quarter. Centaurus Financial Inc. now owns 3,019 shares of the company's stock valued at $634,000 after purchasing an additional 300 shares during the period. Orion Porfolio Solutions LLC boosted its position in shares of MongoDB by 14.4% in the second quarter. Orion Porfolio Solutions LLC now owns 8,339 shares of the company's stock valued at $1,751,000 after acquiring an additional 1,047 shares during the period. MASTERINVEST Kapitalanlage GmbH bought a new position in shares of MongoDB in the second quarter valued at about $1,727,000. Finally, Promus Capital LLC acquired a new position in shares of MongoDB during the 2nd quarter worth about $36,000. 89.29% of the stock is owned by institutional investors.

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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