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 that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 Stock Performance

Shares of MongoDB stock traded up $2.84 on Wednesday, hitting $260.70. 1,293,413 shares of the company traded hands, compared to its average volume of 1,521,145. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The business has a 50-day simple moving average of $277.47 and a 200 day simple moving average of $269.11. The stock has a market capitalization of $19.41 billion, a P/E ratio of -95.15 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last announced 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. The business had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. Research analysts expect that MongoDB, Inc. will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hilltop National Bank raised its position in MongoDB by 47.2% during 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% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the period. Brooklyn Investment Group bought a new stake in MongoDB in the third quarter worth $36,000. GAMMA Investing LLC lifted its position in MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after buying an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC boosted its stake in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDB. Mizuho boosted their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt cut shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a report on Monday, December 16th. Citigroup 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 Monday, December 16th. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $361.00.

About MongoDB

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.