MongoDB (NASDAQ:MDB) Trading Down 6.4% After Insider Selling

MongoDB, Inc. (NASDAQ:MDB)’s share price dropped 6.4% on Thursday following insider selling activity. The company traded as low as $403.00 and last traded at $404.91. Approximately 14,230 shares traded hands during trading, a decline of 99% from the average daily volume of 991,170 shares. The stock had previously closed at $432.49.

Specifically, CEO Dev Ittycheria sold 45,056 shares of the stock in a transaction on Tuesday, January 11th. The shares were sold at an average price of $449.00, for a total transaction of $20,230,144.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Cedric Pech sold 10,000 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $566.46, for a total transaction of $5,664,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,506 shares of company stock worth $55,874,990. Corporate insiders own 7.40% of the company’s stock.

A number of analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of MongoDB in a report on Tuesday, November 16th. They set an “outperform” rating and a $700.00 target price on the stock. upped their price target on shares of MongoDB from $475.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, December 7th. They noted that the move was a valuation call. Morgan Stanley increased their target price on shares of MongoDB from $525.00 to $633.00 and gave the company an “overweight” rating in a research report on Thursday, December 16th. Needham & Company LLC raised their price objective on shares of MongoDB from $534.00 to $626.00 and gave the company a “buy” rating in a research report on Tuesday, December 7th. Finally, Mizuho increased their price target on shares of MongoDB from $475.00 to $490.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $542.13.

The company has a debt-to-equity ratio of 1.71, a quick ratio of 4.75 and a current ratio of 4.75. The firm has a market capitalization of $26.49 billion, a price-to-earnings ratio of -83.91 and a beta of 0.65. The business has a fifty day moving average of $506.09 and a two-hundred day moving average of $454.83.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.27. MongoDB had a negative return on equity of 101.71% and a negative net margin of 38.32%. The firm had revenue of $226.89 million for the quarter, compared to analyst estimates of $205.18 million. During the same period in the prior year, the firm posted ($0.98) EPS. The company’s revenue for the quarter was up 50.5% on a year-over-year basis. As a group, sell-side analysts predict that MongoDB, Inc. will post -4.56 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Price T Rowe Associates Inc. MD grew its holdings in shares of MongoDB by 191.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,766,896 shares of the company’s stock worth $2,084,848,000 after purchasing an additional 3,786,467 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of MongoDB during the 3rd quarter worth $601,000. Vanguard Group Inc. raised its position in MongoDB by 7.9% in the second quarter. Vanguard Group Inc. now owns 5,378,537 shares of the company’s stock valued at $1,944,448,000 after purchasing an additional 391,701 shares during the last quarter. Growth Interface Management LLC bought a new position in MongoDB in the third quarter valued at about $86,758,000. Finally, Caas Capital Management LP bought a new position in MongoDB in the second quarter valued at about $65,542,000. 87.90% of the stock is currently owned by institutional investors.

MongoDB Company Profile (NASDAQ:MDB)

MongoDB, Inc engages in the development and provision of a general purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.

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