Saturday, June 25, 2022

Selling Buzz: MongoDB Inc. [MDB] President & CEO Ittycheria Dev sells 35,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MongoDB Inc. shares valued at $10,466,050 were sold by Ittycheria Dev on Jun 08. At $299.03 per share, Ittycheria Dev sold 35,000 shares. The insider’s holdings dropped to 204,744 shares worth approximately $54.71 million following the completion of this transaction.

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Also, MERRIMAN DWIGHT A sold 3,000 shares, netting a total of over 755,212 in proceeds. Following the sale of shares at $251.74 each, the insider now holds 544,896 shares.

Before that, MERRIMAN DWIGHT A had sold 14,000 shares from its account. In a trade valued at $3,578,725, the Director traded MongoDB Inc. shares for $255.62 each. Upon closing the transaction, the insider’s holdings decreased to 14,000 shares, worth approximately $353.65 million.

As published in a research note from Needham on June 10, 2022, MongoDB Inc. [MDB] has been retained to a Buy and the price target has been revised to $350. This represents a 23.65% premium over Wednesday’s closing price. Analysts at UBS upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of March 01, 2022, RBC Capital Mkts has initiated its “an Outperform” rating for MDB. Earlier on February 11, 2022, Tigress Financial initiated its rating. Their recommendation was “a Buy” for MDB stock.

Analyzing MDB’s Price Performance

On Wednesday, MongoDB Inc. [NASDAQ: MDB] plunged -0.86% to $267.23. The stock’s lowest price that day was $262.50, but it reached a high of $279.91 in the same session. During the last five days, there has been a surge of approximately 10.88%. Over the course of the year, MongoDB Inc. shares have dropped approximately -49.52%. Shares of the company reached a 52-week high of $519.54 on 01/03/22 and a 52-week low of $213.39 on 05/26/22. A 50-day SMA is recorded $301.20, while a 200-day SMA reached $417.55. Nevertheless, trading volume fell to 1.07 million shares from 1.88 million shares the previous day.

Support And Resistance Levels for MongoDB Inc. (MDB)

According to the 24-hour chart, there is a support level at 259.85, which, if violated, would cause prices to drop to 252.47. In the upper region, resistance lies at 277.26. The next price resistance is at 287.29. RSI (Relative Strength Index) is 49.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.25, which suggests the price will decrease in the coming days. Percent R is at 53.34%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of MongoDB Inc. (MDB)?

According to T. Rowe Price Associates, Inc. filings, the company currently owns 8,234,101 shares, which is about 12.19% of the total MDB shares outstanding. The investor’s shares have appreciated by 1,072,904 from its previous 13-F filing of 7161197.0 shares. With the completion of the sale, Capital Research & Management Co’s stake is now worth $1,528,574,751. The Vanguard Group, Inc. acquire a 2.23% interest valued at $1.38 billion while Fidelity Management & Research Co sold a -993,406 stake. A total of 198,086 shares of MongoDB Inc. were sold by BlackRock Fund Advisors during the quarter, and -71,212 were sold by Morgan Stanley Investment Managem. In its current portfolio, BlackRock Advisors LLC holds 1,714,399 shares valued at $406.57 million.

In terms of MongoDB Inc. share price expectations, FactSet research, analysts set an average price target of $373.60 in the next 12 months, up nearly 36.52% from the previous closing price of $269.55. Analysts anticipate MongoDB Inc. stock to reach $500.00 by 2022, with the lowest price target being $270.00. In spite of this, 21 analysts ranked MongoDB Inc. stock as an Overweight at the end of 2022. On November 16, 2021, Credit Suisse assigned a price target of “an Outperform” to the stock and initiated coverage with a $700.

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