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

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $279.99, for a total value of $2,333,716.65. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $60,840,147.06. This represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, January 17th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The shares were 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 stock was sold at an average price of $234.09, for a total transaction of $604,186.29.

MongoDB Trading Down 2.6 %

Shares of MDB stock opened at $271.07 on Friday. The business’s fifty day moving average is $274.45 and its 200-day moving average is $269.62. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last issued its 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. The firm had revenue of $529.40 million during 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 firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. As a group, sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MDB shares. Rosenblatt Securities assumed coverage on shares of MongoDB in a research note on Tuesday, December 17th. They set a “buy” rating and a $350.00 price objective on the stock. Tigress Financial lifted their price target on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus increased their target price on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC boosted their price target on MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Monday, January 6th. Two equities research 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $361.00.

Institutional Trading of MongoDB

A number of hedge funds have recently bought and sold shares of MDB. Dimensional Fund Advisors LP raised its holdings in shares of MongoDB by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 111,487 shares of the company’s stock valued at $27,865,000 after acquiring an additional 17,990 shares during the period. The Manufacturers Life Insurance Company grew its position in MongoDB by 16.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,079 shares of the company’s stock worth $6,762,000 after purchasing an additional 3,836 shares in the last quarter. Creative Planning raised its stake in MongoDB by 115.0% during the 2nd quarter. Creative Planning now owns 14,991 shares of the company’s stock valued at $3,747,000 after purchasing an additional 8,019 shares during the period. Quarry LP lifted its holdings in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of MongoDB by 12.0% during the second quarter. B. Riley Wealth Advisors Inc. now owns 1,242 shares of the company’s stock valued at $310,000 after buying an additional 133 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.