MongoDB, Inc. (NASDAQ:MDB) CEO Sells $3,207,389.12 in Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 18,512 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the sale, the chief executive officer now owns 268,948 shares in the company, valued at $46,597,930.48. This trade represents a 6.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, February 26th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80.
• 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 value of $2,333,716.65.
• On Friday, January 17th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10.

MongoDB Stock Down 5.5 %

Shares of MongoDB stock opened at $154.39 on Monday. The business has a 50-day moving average price of $236.68 and a 200 day moving average price of $261.78. MongoDB, Inc. has a fifty-two week low of $146.50 and a fifty-two week high of $387.19. The firm has a market cap of $12.53 billion, a P/E ratio of -56.35 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter last year, the firm posted $0.86 earnings per share. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in MongoDB by 3.8% during the third quarter. The Manufacturers Life Insurance Company now owns 28,101 shares of the company’s stock worth $7,596,000 after acquiring an additional 1,022 shares during the period. MetLife Investment Management LLC grew its holdings in shares of MongoDB by 1.6% during the third quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock valued at $1,203,000 after purchasing an additional 72 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of MongoDB by 19.0% during the third quarter. Captrust Financial Advisors now owns 1,445 shares of the company’s stock valued at $391,000 after purchasing an additional 231 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in shares of MongoDB in the 3rd quarter worth approximately $1,055,000. Finally, Hilltop Holdings Inc. acquired a new position in MongoDB during the 3rd quarter valued at approximately $292,000. 89.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group set a $350.00 price target on shares of MongoDB in a research report on Tuesday, March 4th. The Goldman Sachs Group dropped their price objective on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company cut MongoDB from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Daiwa America upgraded MongoDB to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, China Renaissance initiated coverage on MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $312.84.

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.