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MongoDB, Inc. (NASDAQ:MDB – Get Free Report) shares dropped 2.7% on Tuesday following insider selling activity. The company traded as low as $382.00 and last traded at $383.59. Approximately 138,156 shares were traded during trading, a decline of 92% from the average daily volume of 1,689,532 shares. The stock had previously closed at $394.28.
Specifically, CRO Cedric Pech sold 16,143 shares of MongoDB stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $378.86, for a total transaction of $6,115,936.98. Following the completion of the sale, the executive now directly owns 34,418 shares in the company, valued at $13,039,603.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other MongoDB news, CRO Cedric Pech sold 16,143 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $378.86, for a total value of $6,115,936.98. Following the completion of the transaction, the executive now owns 34,418 shares in the company, valued at $13,039,603.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hope F. Cochran sold 2,174 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $373.19, for a total transaction of $811,315.06. Following the completion of the transaction, the director now owns 8,200 shares of the company’s stock, valued at approximately $3,060,158. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,694 shares of company stock valued at $39,991,889. 4.80% of the stock is currently owned by insiders.
Analyst Ratings Changes
MDB has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of MongoDB from $440.00 to $480.00 and gave the company an “overweight” rating in a report on Friday, September 1st. 22nd Century Group reiterated a “maintains” rating on shares of MongoDB in a report on Monday, June 26th. Mizuho boosted their target price on shares of MongoDB from $240.00 to $260.00 in a report on Friday, September 1st. Canaccord Genuity Group boosted their target price on shares of MongoDB from $410.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. Finally, 58.com restated a “maintains” rating on shares of MongoDB in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $418.08.
Read Our Latest Stock Report on MongoDB
MongoDB Stock Down 5.0 %
The company has a debt-to-equity ratio of 1.29, a current ratio of 4.48 and a quick ratio of 4.19. The firm’s fifty day moving average is $387.78 and its 200-day moving average is $313.60. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of -108.26 and a beta of 1.11.
Institutional Trading of MongoDB
A number of large investors have recently modified their holdings of the company. Simplicity Solutions LLC boosted its position in shares of MongoDB by 2.2% during the 2nd quarter. Simplicity Solutions LLC now owns 1,169 shares of the company’s stock valued at $480,000 after purchasing an additional 25 shares in the last quarter. AJ Wealth Strategies LLC boosted its position in shares of MongoDB by 1.2% during the 2nd quarter. AJ Wealth Strategies LLC now owns 2,390 shares of the company’s stock valued at $982,000 after purchasing an additional 28 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of MongoDB by 1.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,239 shares of the company’s stock valued at $920,000 after purchasing an additional 32 shares in the last quarter. Veritable L.P. boosted its position in shares of MongoDB by 1.4% during the 2nd quarter. Veritable L.P. now owns 2,321 shares of the company’s stock valued at $954,000 after purchasing an additional 33 shares in the last quarter. Finally, Choreo LLC boosted its position in shares of MongoDB by 3.5% during the 2nd quarter. Choreo LLC now owns 1,040 shares of the company’s stock valued at $427,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.
About MongoDB
MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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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Article originally posted on mongodb google news. Visit mongodb google news