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 firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $60,840,147.06. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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 Stock Up 0.8 %

MDB stock opened at $273.32 on Friday. The stock has a market capitalization of $20.35 billion, a P/E ratio of -99.75 and a beta of 1.25. The firm has a 50-day simple moving average of $272.39 and a 200-day simple moving average of $269.78. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share. On average, analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Institutional Trading of MongoDB

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hilltop National Bank grew its stake in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. Quarry LP grew its stake in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares in the last quarter. Brooklyn Investment Group purchased a new stake in MongoDB during the 3rd quarter valued at about $36,000. Continuum Advisory LLC grew its stake in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDB. Wells Fargo & Company lifted their price target on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Canaccord Genuity Group lifted their price target on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. DA Davidson lifted their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Cantor Fitzgerald began coverage on shares of MongoDB in a report on Friday, January 17th. They issued an “overweight” rating and a $344.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.00.

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.