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

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

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 value of $604,186.29.

MongoDB Stock Down 2.6 %

NASDAQ:MDB opened at $271.07 on Friday. The firm’s 50 day moving average is $274.45 and its two-hundred day moving average is $269.62. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week 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 the consensus estimate 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 analyst estimates of $497.39 million. During the same period last year, the company posted $0.96 EPS. The business’s quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Institutional Trading of MongoDB

A number of institutional investors have recently modified their holdings of MDB. Dimensional Fund Advisors LP grew its stake in MongoDB by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 111,487 shares of the company’s stock worth $27,865,000 after buying an additional 17,990 shares during the period. The Manufacturers Life Insurance Company boosted 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 during the period. Creative Planning increased its holdings in MongoDB by 115.0% in 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 in the last quarter. Quarry LP raised its position in 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 during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake 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 worth $310,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MDB. Morgan Stanley lifted their price objective on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Citigroup boosted their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. China Renaissance started coverage on MongoDB in a report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price objective on the stock. Tigress Financial increased their target price on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price 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.