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 Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

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

MongoDB Trading Down 0.0 %

Shares of MongoDB stock opened at $260.62 on Friday. The firm has a market cap of $19.41 billion, a P/E ratio of -95.12 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 fifty day moving average price is $275.99 and its 200-day moving average price is $268.99.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company 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 firm earned $0.96 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. Analysts forecast that MongoDB, Inc. will post -1.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MDB shares. Piper Sandler restated an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research report on Tuesday, December 10th. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group raised their price target on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Scotiabank lowered their price target on MongoDB from $350.00 to $275.00 and set a “sector perform” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Dimensional Fund Advisors LP grew its stake in MongoDB by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 111,487 shares of the company’s stock valued at $27,865,000 after purchasing an additional 17,990 shares during the last quarter. AE Wealth Management LLC boosted its holdings in MongoDB by 57.5% in the second quarter. AE Wealth Management LLC now owns 5,523 shares of the company’s stock worth $1,380,000 after acquiring an additional 2,017 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in MongoDB in the second quarter worth about $599,000. Bank of Montreal Can boosted its holdings in MongoDB by 13.9% in the second quarter. Bank of Montreal Can now owns 76,073 shares of the company’s stock worth $19,028,000 after acquiring an additional 9,270 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in MongoDB by 0.9% in the second quarter. Xponance Inc. now owns 12,322 shares of the company’s stock worth $3,080,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors 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.