MongoDB (NASDAQ:MDB) Trading Down 5.3% Following Insider Selling

Shares of MongoDB, Inc. (NASDAQ:MDB) were down 5.3% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $259.69 and last traded at $263.48. Approximately 481,810 shares changed hands during trading, a decline of 69% from the average daily volume of 1,543,591 shares. The stock had previously closed at $278.33.

Specifically, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $60,840,147.06. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

Several research firms recently weighed in on MDB. Tigress Financial raised their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. DA Davidson boosted their price target on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Cantor Fitzgerald assumed coverage on MongoDB in a research note on Friday, January 17th. They issued an “overweight” rating and a $344.00 price objective for the company. China Renaissance began coverage on shares of MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price on the stock. Finally, Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Price Performance

The business’s fifty day simple moving average is $272.39 and its 200 day simple moving average is $269.78. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of -99.75 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Equities research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of MDB. Global Retirement Partners LLC boosted its stake in MongoDB by 1,591.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,945 shares of the company’s stock valued at $453,000 after purchasing an additional 1,830 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of MongoDB in the fourth quarter valued at approximately $285,000. Venturi Wealth Management LLC boosted its position in shares of MongoDB by 20.6% during the fourth quarter. Venturi Wealth Management LLC now owns 755 shares of the company’s stock valued at $176,000 after buying an additional 129 shares during the last quarter. CIBC Asset Management Inc grew its holdings in MongoDB by 239.6% during the fourth quarter. CIBC Asset Management Inc now owns 49,973 shares of the company’s stock worth $11,634,000 after buying an additional 35,256 shares in the last quarter. Finally, MN Wealth Advisors LLC raised its position in MongoDB by 59.7% in the 4th quarter. MN Wealth Advisors LLC now owns 4,113 shares of the company’s stock valued at $958,000 after buying an additional 1,537 shares during the last quarter. 89.29% of the stock is currently 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.