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 business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at $60,840,147.06. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 Trading Up 0.8 %

Shares of NASDAQ:MDB opened at $273.32 on Friday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The company’s 50 day moving average is $272.39 and its two-hundred day moving average is $269.78. The company has a market cap of $20.35 billion, a PE ratio of -99.75 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last announced 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 net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same period in the prior year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. As a group, equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Wall Street Analyst Weigh In

MDB has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. KeyCorp upped their price objective on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. China Renaissance assumed coverage on shares of MongoDB in a report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price objective on the stock. Finally, Barclays decreased their price objective on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDB. Hilltop National Bank grew its position in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the last quarter. Quarry LP grew its position 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 buying an additional 129 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of MongoDB in the 3rd quarter valued at $36,000. GAMMA Investing LLC grew its position in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.