MongoDB, Inc. (NASDAQ:MDB) CEO Sells $2,229,445.80 in Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on 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 in the company, valued at approximately $58,121,799.12. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 value 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 transaction 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 Price Performance

NASDAQ MDB traded up $5.02 on Friday, hitting $267.43. 1,339,166 shares of the company’s stock were exchanged, compared to its average volume of 1,486,038. The firm’s 50-day moving average price is $262.30 and its two-hundred day moving average price is $274.58. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of -97.60 and a beta of 1.28. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $449.12.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. On average, research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MDB has been the subject of a number of analyst reports. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Needham & Company LLC boosted their target price on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. China Renaissance started coverage on shares of MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target on the stock. Finally, DA Davidson boosted their price objective on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Two 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in MongoDB by 23,026.5% during the third quarter. International Assets Investment Management LLC now owns 38,390 shares of the company’s stock worth $10,379,000 after purchasing an additional 38,224 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of MongoDB by 18.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,661 shares of the company’s stock worth $719,000 after buying an additional 414 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after acquiring an additional 40 shares during the last quarter. abrdn plc increased its holdings in MongoDB by 55.6% during the 3rd quarter. abrdn plc now owns 41,875 shares of the company’s stock valued at $11,144,000 after acquiring an additional 14,966 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of MongoDB by 112.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 937 shares of the company’s stock valued at $253,000 after purchasing an additional 496 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.