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

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 2,581 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $50,866,352.46. This represents a 1.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

MongoDB Price Performance

NASDAQ:MDB opened at $252.86 on Tuesday. The business’s 50-day simple moving average is $284.11 and its 200-day simple moving average is $269.17. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The stock has a market capitalization of $18.83 billion, a PE ratio of -92.28 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. On average, research analysts expect that MongoDB, Inc. will post -1.86 earnings per share for the current year.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Everence Capital Management Inc. bought a new position in MongoDB in the fourth quarter valued at approximately $624,000. Versant Capital Management Inc raised its position in MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after acquiring an additional 165 shares in the last quarter. Principal Financial Group Inc. raised its position in MongoDB by 2.7% during the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after acquiring an additional 160 shares in the last quarter. Tidal Investments LLC raised its position in MongoDB by 76.8% during the third quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock worth $2,125,000 after acquiring an additional 3,415 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in MongoDB in the third quarter valued at $44,000. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent analyst reports. DA Davidson boosted 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. Tigress Financial boosted their price target on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Stifel Nicolaus upped their price objective on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Robert W. Baird lifted their target price on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, Oppenheimer increased their price target on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $367.14.

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.