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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s stock price was down 5.3% on Thursday following insider selling activity. The company traded as low as $259.69 and last traded at $263.48. Approximately 481,810 shares were traded during mid-day 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 MongoDB stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company's stock, valued at approximately $60,840,147.06. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MDB shares. KeyCorp lifted their price objective on MongoDB from $330.00 to $375.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. JMP Securities reissued a "market outperform" rating and set a $380.00 price objective on shares of MongoDB in a research note on Wednesday, December 11th. Loop Capital raised their price target on MongoDB from $315.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Scotiabank lowered their price target on MongoDB from $350.00 to $275.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. Finally, Macquarie assumed coverage on MongoDB in a research report on Thursday, December 12th. They set a "neutral" rating and a $300.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and an average price target of $361.00.

MongoDB Price Performance

The firm has a 50-day simple moving average of $272.39 and a 200 day simple moving average of $269.91. The firm has a market cap of $20.02 billion, a PE ratio of -98.11 and a beta of 1.25.

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

Institutional Trading of MongoDB

Several institutional investors have recently bought and sold shares of MDB. Nisa Investment Advisors LLC lifted its holdings in shares of MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company's stock valued at $295,000 after purchasing an additional 40 shares in the last quarter. Hilltop National Bank boosted its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after buying an additional 42 shares during the last quarter. Avestar Capital LLC boosted its position in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock valued at $504,000 after buying an additional 42 shares during the last quarter. Tanager Wealth Management LLP boosted its position in shares of MongoDB by 4.7% during the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company's stock valued at $259,000 after buying an additional 43 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its position in shares of MongoDB by 16.5% during the third quarter. Rakuten Securities Inc. now owns 332 shares of the company's stock valued at $90,000 after buying an additional 47 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.