In a recent transaction, MongoDB , Inc.'s (NASDAQ:MDB) Chief Operating Officer and Chief Financial Officer, Michael Lawrence Gordon, sold a significant portion of his company stock, amounting to over $3.2 million. The sales took place on April 2, 2024, and were disclosed in a filing with the Securities and Exchange Commission.
According to the filing, Gordon sold a total of 9,316 shares of MongoDB's Class A Common Stock. The shares were sold at prices ranging from $345.42 to $348.15, with the total value of the sales reaching approximately $3,243,064. This sale was executed in multiple transactions, and the prices reported represent weighted averages. The exact number of shares sold at each price within the specified range is available upon request from the company or the SEC.
The SEC filing also noted that Gordon acquired a total of 12,413 shares through the vesting of performance-based restricted stock units (RSUs) on the same day. These shares were granted under MongoDB's long-term incentive bonus plan and 2016 Equity Incentive Plan and vested based on the company's achievement of certain performance criteria. Since these shares were acquired at a price of $0.0, they did not contribute to the total dollar value reported for the sales.
It's worth mentioning that the sale of shares by Gordon was in part to satisfy tax withholding obligations related to the vesting of these performance-based RSUs, as well as service-based RSUs not reported under Section 16 of the SEC filing.
MongoDB, Inc., headquartered in New York, is a leading provider of database software and services. The company's stock trades on the NASDAQ under the ticker symbol MDB. As of the date of the filing, after the reported transactions, Gordon held a total of 83,511 shares of MongoDB's Class A Common Stock directly, with additional indirect holdings through family members.
Investors often keep a close eye on insider transactions as they may provide valuable insights into the company's financial health and future prospects. However, it is important to note that insider sales can be motivated by a variety of factors and may not necessarily indicate a negative outlook on the company.
InvestingPro Insights
MongoDB, Inc. (NASDAQ:MDB) has been making waves in the database software and services industry, and recent insider transactions have drawn attention to the company's financial nuances. With Chief Operating Officer and Chief Financial Officer Michael Lawrence Gordon selling a substantial number of shares, investors are keen to understand the underlying financial health and future prospects of MongoDB.
According to InvestingPro Data, MongoDB boasts a market capitalization of $24.75 billion, reflecting its significant presence in the market. Despite a challenging P/E ratio of -137.26, the company's revenue growth remains strong at 31.07% for the last twelve months as of Q4 2024, underscoring its capacity for scaling operations and increasing market share.
InvestingPro Tips suggest that MongoDB's net income is expected to grow this year, indicating potential upside for investors. Furthermore, the company's stock is considered to be in oversold territory based on the Relative Strength Index (RSI), which could signal a buying opportunity for those looking at technical indicators.
For those interested in a deeper dive into MongoDB's financials and future outlook, there are an additional 12 InvestingPro Tips available on https://www.investing.com/pro/MDB. These tips can provide a broader understanding of the company's performance and potential investment opportunities.
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