Dev Ittycheria Sells 2,581 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 2,581 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $604,186.29. Following the completion of the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $50,866,352.46. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

MongoDB Stock Up 1.1 %

NASDAQ:MDB opened at $248.68 on Thursday. The stock has a fifty day simple moving average of $283.52 and a 200 day simple moving average of $269.30. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of -90.76 and a beta of 1.25. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s revenue was up 22.3% compared to the same quarter last year. Equities analysts predict that MongoDB, Inc. will post -1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

MDB has been the subject of a number of analyst reports. Mizuho boosted their price objective on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Barclays upped their price target on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Macquarie initiated coverage on shares of MongoDB in a research report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price objective on the stock. DA Davidson upped their target price on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Loop Capital boosted their price objective on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $367.14.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP increased its holdings in shares of MongoDB by 2,580.0% in the 2nd 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. Brooklyn Investment Group purchased a new position in MongoDB in the third quarter valued at about $36,000. GAMMA Investing LLC increased its position in MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of MongoDB during the 2nd quarter valued at about $41,000. Institutional investors and hedge funds 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.