Insider Selling: MongoDB, Inc. (NASDAQ:MDB) CEO Sells $604,186.29 in Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 2,581 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $604,186.29. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $50,866,352.46. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

MongoDB Price Performance

Shares of MDB stock opened at $248.68 on Thursday. The company’s fifty day moving average price is $283.52 and its two-hundred day moving average price is $269.30. The firm has a market capitalization of $18.52 billion, a P/E ratio of -90.76 and a beta of 1.25. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts anticipate that MongoDB, Inc. will post -1.86 EPS for the current year.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of MDB. Jennison Associates LLC grew its stake in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Geode Capital Management LLC lifted its holdings in MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after acquiring an additional 7,526 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares during the last quarter. Finally, Holocene Advisors LP raised its position in shares of MongoDB by 22.6% during the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after acquiring an additional 66,730 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

MDB has been the topic of several analyst reports. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Monness Crespi & Hardt lowered shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price on the stock. in a research report on Monday, December 16th. Rosenblatt Securities assumed coverage on MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price target for the company. DA Davidson raised their price objective on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their target price on MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $367.14.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.