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

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction of $604,186.29.

MongoDB Trading Up 1.1 %

MongoDB stock opened at $260.70 on Thursday. The company has a market capitalization of $19.41 billion, a price-to-earnings ratio of -95.15 and a beta of 1.25. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The stock’s 50 day moving average is $276.80 and its 200-day moving average is $269.05.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates 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 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 EPS. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities research analysts predict that MongoDB, Inc. will post -1.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MDB. Citigroup lifted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, December 16th. China Renaissance initiated coverage on MongoDB in a research report on Tuesday. They issued a “buy” rating and a $351.00 target price on the stock. DA Davidson boosted their target price on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Monday, January 6th. Finally, Robert W. Baird boosted their price objective on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $361.00.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 17,990 shares during the period. AE Wealth Management LLC grew its position in MongoDB by 57.5% during the second quarter. AE Wealth Management LLC now owns 5,523 shares of the company’s stock worth $1,380,000 after buying an additional 2,017 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in MongoDB during the 2nd quarter worth $599,000. Bank of Montreal Can raised its holdings in MongoDB by 13.9% in the 2nd quarter. Bank of Montreal Can now owns 76,073 shares of the company’s stock valued at $19,028,000 after acquiring an additional 9,270 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of MongoDB by 0.9% during the 2nd quarter. Xponance Inc. now owns 12,322 shares of the company’s stock valued at $3,080,000 after acquiring an additional 105 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.