MongoDB, Inc. (NASDAQ:MDB) CEO Sells $2,333,716.65 in Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total value of $2,333,716.65. Following the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $60,840,147.06. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $604,186.29.

MongoDB Trading Down 2.6 %

Shares of MongoDB stock traded down $7.26 on Thursday, reaching $271.07. 2,225,859 shares of the company were exchanged, compared to its average volume of 1,635,964. The company has a market capitalization of $20.19 billion, a price-to-earnings ratio of -98.93 and a beta of 1.25. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The company has a 50-day moving average of $274.45 and a 200 day moving average of $269.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. The business’s revenue was up 22.3% compared to the same quarter last year. Analysts predict that MongoDB, Inc. will post -1.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MDB shares. China Renaissance started coverage on MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target on the stock. Truist Financial restated a “buy” rating and set a $400.00 target price (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their price target on shares of MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $361.00.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently added to or reduced their stakes in the business. Hilltop National Bank raised its position in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the period. Quarry LP raised its holdings in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the period. Brooklyn Investment Group acquired a new stake in MongoDB during the third quarter worth approximately $36,000. GAMMA Investing LLC boosted its holdings in shares of MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares during the period. Finally, Continuum Advisory LLC boosted its holdings in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds 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.