MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria Sells 2,581 Shares

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

MongoDB Stock Down 2.7 %

Shares of MongoDB stock opened at $245.96 on Wednesday. The stock has a market cap of $18.32 billion, a PE ratio of -89.77 and a beta of 1.25. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The business has a fifty day simple moving average of $284.11 and a 200-day simple moving average of $269.17.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. Analysts expect that MongoDB, Inc. will post -1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDB. Royal Bank of Canada lifted their price target on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Morgan Stanley lifted their target price on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research note on Tuesday, December 10th. Robert W. Baird lifted their price objective on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, 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 report on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.14.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MDB. Nisa Investment Advisors LLC grew its holdings in shares of MongoDB by 3.8% during 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 in the last quarter. Tanager Wealth Management LLP boosted its position in MongoDB by 4.7% during the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after purchasing an additional 43 shares during the last quarter. Rakuten Securities Inc. grew its stake in MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after purchasing an additional 47 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in MongoDB by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock worth $322,000 after purchasing an additional 59 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of MongoDB by 5.6% during the 3rd quarter. Fulton Bank N.A. now owns 1,199 shares of the company’s stock worth $324,000 after purchasing an additional 64 shares in the last quarter. 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.