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 that occurred on Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80. Following the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $58,121,799.12. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 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.
• On Thursday, January 2nd, Dev Ittycheria sold 2,581 shares of MongoDB stock. The shares were sold at an average price of $234.09, for a total value of $604,186.29.

MongoDB Stock Performance

Shares of MDB stock opened at $267.43 on Friday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $449.12. The stock has a market capitalization of $19.92 billion, a PE ratio of -97.60 and a beta of 1.28. The stock’s fifty day moving average is $262.73 and its 200-day moving average is $274.82.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter last year, the company posted $0.96 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. As a group, analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MDB. Norges Bank acquired a new stake in shares of MongoDB in the 4th quarter valued at $189,584,000. Jennison Associates LLC lifted its stake in shares of MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares during the period. Marshall Wace LLP bought a new position in MongoDB in the fourth quarter valued at about $110,356,000. Raymond James Financial Inc. acquired a new stake in MongoDB in the fourth quarter worth about $90,478,000. Finally, D1 Capital Partners L.P. bought a new stake in MongoDB during the 4th quarter worth about $76,129,000. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MDB. Monness Crespi & Hardt downgraded MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price for the company. in a research note on Monday, December 16th. Morgan Stanley upped their price target on MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Stifel Nicolaus raised their price objective on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays dropped their target price on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Macquarie began coverage on shares of MongoDB in a research report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $361.00.

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.