MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria Sells 8,335 Shares

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $58,121,799.12. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dev Ittycheria also recently made the following trade(s):

• On Tuesday, January 28th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The shares were sold at an average price of $279.99, for a total transaction of $2,333,716.65.
• On Friday, January 17th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10.
• On Thursday, January 2nd, Dev Ittycheria sold 2,581 shares of MongoDB stock. The shares were sold at an average price of $234.09, for a total value of $604,186.29.

MongoDB Trading Up 1.9 %

MDB stock traded up $5.02 during trading on Friday, hitting $267.43. The company had a trading volume of 1,339,166 shares, compared to its average volume of 1,486,038. The firm has a market capitalization of $19.92 billion, a price-to-earnings ratio of -97.60 and a beta of 1.28. The business has a 50 day moving average of $262.30 and a 200 day moving average of $274.58. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $449.12.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same period last year, the firm posted $0.96 earnings per share. The business’s revenue was up 22.3% on a year-over-year basis. As a group, equities analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Ratings Changes

MDB has been the topic of several research reports. Citigroup raised their price target on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Tigress Financial lifted their target price on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company increased their price target on MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Macquarie began coverage on MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective on the stock. Finally, Monness Crespi & Hardt lowered MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price for the company. in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $361.00.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. OneDigital Investment Advisors LLC grew its holdings in MongoDB by 3.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock worth $243,000 after acquiring an additional 39 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares during the last quarter. Hilltop National Bank raised its holdings in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. Avestar Capital LLC lifted its stake in MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after purchasing an additional 42 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in MongoDB by 16.5% during the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after buying an additional 47 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

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.