MongoDB (NASDAQ:MDB) Trading Down 1.4% After Insider Selling

Key Points

• MongoDB's shares fell by 1.4% to $318.96 after recent insider selling activity, with over 1.9 million shares traded, a significant decline from the average volume.
• Director Dwight A. Merriman sold a total of 31,000 shares, significantly decreasing his ownership stake in the company.
• Analysts remain optimistic, with several raising their price targets for MongoDB, the highest being $400, indicating a consensus rating of 'Moderate Buy.'

MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s share price traded down 1.4% during trading on Tuesday following insider selling activity. The company traded as low as $318.21 and last traded at $318.96. 1,926,443 shares traded hands during trading, a decline of 24% from the average session 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 transaction, the director directly owned 514,896 shares of the company's stock, valued at $165,178,636.80. This represents a 1.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 25,000 shares of the 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 in the company, valued at approximately $345,543,017.40. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total value of $384,989.82. Following the transaction, the director owned 24,308 shares in the company, valued at $7,971,322.44. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Guggenheim increased their target price on MongoDB from $310.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Needham & Company LLC raised their price objective on MongoDB from $325.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday. Macquarie raised their price objective on MongoDB from $265.00 to $305.00 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. Rosenblatt Securities restated a "buy" rating and set a $290.00 price objective on shares of MongoDB in a research report on Friday, August 22nd. Finally, Wall Street Zen upgraded MongoDB from a "hold" rating to a "buy" rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $336.83.

MongoDB Stock Down 1.4%

The company has a 50-day simple moving average of $260.02 and a two-hundred day simple moving average of $212.85. The firm has a market cap of $25.95 billion, a PE ratio of -325.47 and a beta of 1.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP purchased a new position in shares of MongoDB during the 4th quarter valued at $768,000. Vident Advisory LLC lifted its holdings in MongoDB by 25.9% during the 4th quarter. Vident Advisory LLC now owns 1,851 shares of the company's stock worth $431,000 after purchasing an additional 381 shares in the last quarter. Woodline Partners LP purchased a new stake in MongoDB during the 4th quarter worth about $247,000. Toronto Dominion Bank lifted its holdings in MongoDB by 10.8% during the 4th quarter. Toronto Dominion Bank now owns 10,484 shares of the company's stock worth $2,441,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in MongoDB by 47.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,731 shares of the company's stock worth $1,334,000 after purchasing an additional 1,854 shares in the last quarter. Hedge funds and other institutional investors 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.

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