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 firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at $58,121,799.12. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 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 Stock Up 1.9 %

Shares of MongoDB stock opened at $267.43 on Friday. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $449.12. The business’s 50 day moving average is $262.73 and its 200-day moving average is $274.82. The stock has a market cap of $19.92 billion, a P/E ratio of -97.60 and a beta of 1.28.

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

Institutional Investors Weigh In On MongoDB

Hedge funds have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB in the fourth quarter valued at approximately $29,000. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. Brooklyn Investment Group acquired a new position in shares of MongoDB during the 3rd quarter worth approximately $36,000. Continuum Advisory LLC raised its stake in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the period. Finally, NCP Inc. acquired a new stake in MongoDB during the 4th quarter valued at $35,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDB has been the topic of several analyst reports. Royal Bank of Canada increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird boosted their target price on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Morgan Stanley raised their price target on MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Barclays cut their price objective on MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

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.