MDB (MongoDB Inc.) may reap gains as insiders became active recently


MongoDB Inc.’s recent filing unveils that its President & CEO Ittycheria Dev unloaded Company’s shares for reported $7.49 million on Feb 01. In the deal valued at $213.94 per share,35,000 shares were sold. As a result of this transaction, Ittycheria Dev now holds 190,264 shares worth roughly $ 39.18 million.

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Then, MERRIMAN DWIGHT A sold 14,095 shares, generating $3,025,845 in total proceeds. Upon selling the shares at $214.68, the Director now owns 1,227,954 shares.

Before that, Ittycheria Dev sold 39,382 shares. MongoDB Inc. shares valued at $7,874,776 were divested by the President & CEO at a price of $199.96 per share. As a result of the transaction, Ittycheria Dev now holds 190,264 shares, worth roughly $39.18 million.

Bernstein initiated its MongoDB Inc. [MDB] rating to an Outperform in a research note published on Friday, February 17, 2023; the price target was $282. PT values the company’s stock at a premium of 26.99 to its Friday closing price. A number of analysts have revised their coverage, including Guggenheim’s analysts, who began to cover the stock in late January with a ‘”a Neutral”‘ rating. Wedbush began covering MDB with “an Outperform” recommendation on December 15, 2022. JMP Securities revised its rating on December 07, 2022. It rated MDB as “a Mkt outperform” which previously was an “a Mkt perform”.

Price Performance Review of MDB

On Friday, MongoDB Inc. [NASDAQ:MDB] saw its stock fall -3.54% to $205.90. On the same session, the stock had its day’s lowest price of $203.37, but rose to a high of $209.9599. Over the last five days, the stock has lost -5.26%. MongoDB Inc. shares have risen nearly 4.60% since the year began. Nevertheless, the stocks have fallen -41.97% over the past one year. While a 52-week high of $471.96 was reached on 02/02/23, a 52-week low of $135.15 was recorded on 01/06/23. SMA at 50 days reached $204.76, while 200 days put it at $234.51. A total of 1.09 million shares were traded, compared to the trading of 1.13 million shares in the previous session.

Levels Of Support And Resistance For MDB Stock

The 24-hour chart illustrates a support level at 202.86, which if violated will result in even more drops to 199.82. On the upside, there is a resistance level at 209.45. A further resistance level may holdings at 213.00. The Relative Strength Index (RSI) on the 14-day chart is 46.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.68%. Stochastics %K at 15.65% indicates the stock is a buying.

How much short interest is there in MongoDB Inc.?

A steep rise in short interest was recorded in MongoDB Inc. stocks on Jan 12, 2023, dropping by -0.26 million shares to a total of 4.5 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 4.76 million shares. There was a decline of -5.78%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.55% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.89.

MongoDB Inc. [MDB] – Who Are The Largest Shareholders?

In filings from T. Rowe Price Associates, Inc., it is revealed that the company now owns 6,696,085 shares, or roughly 9.66% of the outstanding MDB shares. In other words, the investor’s shares have fallen by -143,201 from its previous 13-F filing of 6839286.0. Additionally, The Vanguard Group, Inc. increased 2.71% of its stake after which the total value it holdings stand at $1,316,426,912, while Fidelity Management & Research Co reduced -6.76% of its stake to hold $834.54 million in the firm. Over the last quarter, Capital Research & Management Co sold -2,838,333 shares of MongoDB Inc., while BlackRock Fund Advisors sold 133,363 shares. At present, Wellington Management Co. LLP is holding 2,259,119 shares valued at $483.93 million. JPMorgan Investment Management, I owned 1,721,243 shares of the company at the time of its most recent 13F filing, worth $368.71 million.

According to FactSet, MongoDB Inc.’s share price will average $254.26 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.43 percent from its previous closing price of $213.46. Analysts expect MongoDB Inc. stock to reach the higher price of $325.00, while the lowest price estimate is $205.00. However, 28 analysts have rated MDB stock as an Overweight in their predictions for 2023. The most recent change occurred on December 07, 2022 when Credit Suisse resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $305.


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