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

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the sale, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. This represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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 Trading Up 1.1 %

Shares of NASDAQ MDB opened at $260.70 on Thursday. The firm has a market capitalization of $19.41 billion, a P/E ratio of -95.15 and a beta of 1.25. The firm’s 50-day moving average price is $276.80 and its 200-day moving average price is $269.05. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last posted 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 business had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same period in the prior year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities research analysts forecast that MongoDB, Inc. will post -1.79 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MDB shares. Scotiabank dropped their price objective on MongoDB from $350.00 to $275.00 and set a “sector perform” rating for the company in a research report on Tuesday. Wedbush raised shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Rosenblatt Securities started coverage on shares of MongoDB in a report on Tuesday, December 17th. They set a “buy” rating and a $350.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Macquarie assumed coverage on shares of MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price on the stock. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $361.00.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of MDB. Hilltop National Bank raised its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares during the last quarter. Quarry LP raised its holdings in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the last quarter. Brooklyn Investment Group bought a new position in MongoDB in the 3rd quarter valued at about $36,000. GAMMA Investing LLC boosted its stake in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC increased its holdings in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.