Taking a look at what insiders are doing to gauge the MongoDB Inc. (MDB)’s direction

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 $4,259,002 were sold by Ittycheria Dev on Sep 09. At $250.66 per share, Ittycheria Dev sold 16,991 shares. The insider’s holdings dropped to 199,753 shares worth approximately $39.59 million following the completion of this transaction.


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Also, Ittycheria Dev sold 68,009 shares, netting a total of over 17,002,250 in proceeds. Following the sale of shares at $250.00 each, the insider now holds 199,753 shares.

Before that, Pech Cedric had sold 11,340 shares from its account. In a trade valued at $2,835,000, the Chief Revenue Officer traded MongoDB Inc. shares for $250.00 each. Upon closing the transaction, the insider’s holdings decreased to 11,340 shares, worth approximately $6.83 million.

As published in their initiating research note from Robert W. Baird on July 13, 2022, MongoDB Inc. [MDB] has been an Outperform and the price target has been revised to $360. This represents a 44.94% premium over Thursday’s closing price. Analysts at Redburn started covering the stock with ‘”a Sell”‘ outlook in a report released in late June. As of June 10, 2022, Needham has reiterated its “Buy” rating for MDB. Earlier on March 18, 2022, UBS upgraded its rating. Their new recommendation was “a Buy” for MDB stock which previously was a “a Neutral”.

Analyzing MDB’s Price Performance

On Thursday, MongoDB Inc. [NASDAQ: MDB] plunged -5.38% to $198.20. The stock’s lowest price that day was $196.80, but it reached a high of $212.00 in the same session. During the last five days, there has been a drop of approximately -15.13%. Over the course of the year, MongoDB Inc. shares have dropped approximately -62.56%. Shares of the company reached a 52-week high of $519.54 on 01/03/22 and a 52-week low of $196.80 on 09/22/22. A 50-day SMA is recorded $301.98, while a 200-day SMA reached $352.39. Nevertheless, trading volume fell to 2.36 million shares from 1.65 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 192.67, which, if violated, would cause prices to drop to 187.13. In the upper region, resistance lies at 207.87. The next price resistance is at 217.53. RSI (Relative Strength Index) is 27.58 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -28.94, which suggests the price will decrease in the coming days. Percent R is at 98.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is MongoDB Inc. subject to short interest?

Stocks of MongoDB Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.47 million shares to 3.87 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.34 million shares. A decline of -12.14% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.34 of the overall float, the days-to-cover ratio (short ratio) decline to 2.34.

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

According to T. Rowe Price Associates, Inc. filings, the company currently owns 8,258,298 shares, which is about 12.12% of the total MDB shares outstanding. The investor’s shares have appreciated by 24,197 from its previous 13-F filing of 8234101.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,913,281,274. Capital Research & Management Co reduced a -10.08% interest valued at $1.87 billion while Fidelity Management & Research Co sold a -749,488 stake. A total of -203,188 shares of MongoDB Inc. were sold by BlackRock Fund Advisors during the quarter, and -12,880 were sold by Morgan Stanley Investment Managem. In its current portfolio, BlackRock Advisors LLC holds 1,646,414 shares valued at $531.56 million.

In terms of MongoDB Inc. share price expectations, FactSet research, analysts set an average price target of $360.01 in the next 12 months, up nearly 69.48% from the previous closing price of $209.46. Analysts anticipate MongoDB Inc. stock to reach $445.00 by 2022, with the lowest price target being $300.00. In spite of this, 23 analysts ranked MongoDB Inc. stock as an Overweight at the end of 2022. On March 01, 2022, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and initiated coverage with a $505.

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