Insider Selling: MongoDB, Inc. (NASDAQ:MDB) Director Sells 3,000 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.00, for a total transaction of $969,000.00. Following the transaction, the director now directly owns 1,121,006 shares in the company, valued at approximately $362,084,938. The trade was a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

MongoDB Stock Performance

Shares of MongoDB stock opened at $334.31 on Friday. The business has a 50-day simple moving average of $287.82 and a 200-day simple moving average of $270.71. The company has a market cap of $24.70 billion, a PE ratio of -110.70 and a beta of 1.17. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

Analysts Set New Price Targets

MDB has been the topic of several recent analyst reports. Sanford C. Bernstein boosted their target price on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Piper Sandler upped their price objective on MongoDB from $335.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Bank of America raised their target price on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Citigroup upped their price target on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $350.00 price objective on shares of MongoDB in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $344.25.

Institutional Investors Weigh In On MongoDB

Large investors have recently modified their holdings of the company. Aigen Investment Management LP acquired a new position in shares of MongoDB during the third quarter worth $1,045,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in MongoDB during the 3rd quarter worth about $4,366,000. Charles Schwab Investment Management Inc. boosted its position in shares of MongoDB by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after acquiring an additional 7,575 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of MongoDB in the 2nd quarter valued at about $1,860,000. Finally, Sycomore Asset Management raised its position in shares of MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock worth $12,884,000 after acquiring an additional 24,827 shares in 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.