Insider Selling: MongoDB, Inc. (NASDAQ:MDB) CEO Sells 18,512 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the transaction, the chief executive officer now owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. This trade represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, February 26th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80.
• On Tuesday, January 28th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The stock was sold at an average price of $279.99, for a total transaction of $2,333,716.65.
• On Friday, January 17th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10.

MongoDB Price Performance

MDB opened at $154.39 on Friday. MongoDB, Inc. has a 12 month low of $151.52 and a 12 month high of $387.19. The stock has a market capitalization of $12.53 billion, a P/E ratio of -56.35 and a beta of 1.49. The business has a 50 day simple moving average of $236.68 and a 200-day simple moving average of $261.91.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the business posted $0.86 EPS. Research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of MongoDB during the 4th quarter worth approximately $189,584,000. Marshall Wace LLP acquired a new stake in MongoDB in the fourth quarter valued at $110,356,000. Raymond James Financial Inc. acquired a new stake in MongoDB in the fourth quarter valued at $90,478,000. D1 Capital Partners L.P. purchased a new position in shares of MongoDB in the fourth quarter valued at $76,129,000. Finally, Amundi raised its stake in shares of MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after buying an additional 321,186 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDB shares. Truist Financial reduced their price objective on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Scotiabank restated a “sector perform” rating and issued a $240.00 price target (down from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. China Renaissance began coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective for the company. The Goldman Sachs Group cut their target price on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, Wells Fargo & Company downgraded MongoDB from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.84.

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.