Dev Ittycheria Sells 18,512 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

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

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 shares were 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 Stock Down 5.5 %

Shares of MongoDB stock opened at $154.39 on Friday. The firm has a market cap of $12.53 billion, a PE ratio of -56.35 and a beta of 1.49. MongoDB, Inc. has a 52 week low of $151.52 and a 52 week high of $387.19. The business’s fifty day simple moving average is $236.68 and its 200-day simple moving average is $261.91.

MongoDB (NASDAQ:MDB) last posted 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 company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period in the previous year, the company earned $0.86 EPS. As a group, equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on MDB shares. The Goldman Sachs Group reduced their target price on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Macquarie decreased their price objective on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Piper Sandler cut their target price on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Oppenheimer decreased their price target on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Robert W. Baird cut their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $312.84.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in shares of MongoDB by 3.8% during the third quarter. The Manufacturers Life Insurance Company now owns 28,101 shares of the company’s stock worth $7,596,000 after buying an additional 1,022 shares during the period. MetLife Investment Management LLC lifted its stake in MongoDB by 1.6% during the 3rd quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock worth $1,203,000 after acquiring an additional 72 shares in the last quarter. Captrust Financial Advisors boosted its holdings in MongoDB by 19.0% during the 3rd quarter. Captrust Financial Advisors now owns 1,445 shares of the company’s stock valued at $391,000 after acquiring an additional 231 shares during the period. Benjamin Edwards Inc. acquired a new position in MongoDB in the 3rd quarter valued at about $1,055,000. Finally, Hilltop Holdings Inc. purchased a new stake in MongoDB during the third quarter worth about $292,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.