On July 3, 2023, Mark Porter, the Chief Technology Officer of MongoDB Inc (MDB, Financial), sold 2734 shares of the company. This move is part of a broader trend of insider selling at MongoDB Inc, which we will explore in this article.
Who is Mark Porter?
Mark Porter is the Chief Technology Officer at MongoDB Inc. He has a long history in the tech industry, with experience in various leadership roles. His expertise lies in database technologies, cloud computing, and software development. As the CTO of MongoDB Inc, Porter is responsible for overseeing the company's technological development and strategy.
About MongoDB Inc
MongoDB Inc is a software company that specializes in database products. Their flagship product, MongoDB, is a source-available cross-platform document-oriented database program. It is classified as a NoSQL database program, which uses JSON-like documents with optional schemas. MongoDB is known for its flexibility and scalability, making it a popular choice for businesses of all sizes.
Insider Sell Analysis
Over the past year, Mark Porter has sold a total of 13040 shares and has not purchased any shares. This recent sale of 2734 shares is part of this broader trend.
The insider transaction history for MongoDB Inc shows a total of 50 insider sells over the past year, with no insider buys. This could indicate that insiders believe the stock is currently overvalued, leading them to sell their shares.
Stock Price and Valuation
On the day of Mark Porter’s recent sell, shares of MongoDB Inc were trading for $412.33 apiece. This gives the stock a market cap of $28.16 billion.
With a price of $412.33 and a GuruFocus Value of $559.86, MongoDB Inc has a price-to-GF-Value ratio of 0.74. This means the stock is modestly undervalued based on its GF Value. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance.
Despite the insider selling trend, the valuation suggests that MongoDB Inc's stock could still be a good investment. However, potential investors should carefully consider the insider selling activity and other market factors before making a decision.
As always, it's crucial to do your own research and consult with a financial advisor before making any investment decisions.
