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 company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $58,121,799.12. This represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were 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 transaction of $604,186.29.

MongoDB Price Performance

MDB opened at $267.43 on Friday. MongoDB, Inc. has a one year low of $212.74 and a one year high of $449.12. The company’s 50 day simple moving average is $262.30 and its 200-day simple moving average is $274.58. The stock has a market capitalization of $19.92 billion, a P/E ratio of -97.60 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last announced 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 business 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 business posted $0.96 earnings per share. MongoDB’s revenue was up 22.3% compared to the same quarter last year. As a group, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently bought and sold shares of MDB. International Assets Investment Management LLC increased its position in shares of MongoDB by 23,026.5% during the third quarter. International Assets Investment Management LLC now owns 38,390 shares of the company’s stock worth $10,379,000 after acquiring an additional 38,224 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of MongoDB by 18.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,661 shares of the company’s stock worth $719,000 after acquiring an additional 414 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after acquiring an additional 40 shares in the last quarter. abrdn plc increased its position in shares of MongoDB by 55.6% during the third quarter. abrdn plc now owns 41,875 shares of the company’s stock worth $11,144,000 after acquiring an additional 14,966 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of MongoDB by 112.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 937 shares of the company’s stock worth $253,000 after acquiring an additional 496 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDB has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Stifel Nicolaus upped their target price on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC upped their target price on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley upped their target price on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, DA Davidson upped their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Two equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.