MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria Sells 18,512 Shares

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 18,512 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. This represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 shares were 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 stock was 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 shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10.

MongoDB Price Performance

Shares of MDB opened at $154.39 on Monday. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of -56.35 and a beta of 1.49. The business’s 50-day moving average is $236.68 and its 200-day moving average is $261.78. MongoDB, Inc. has a fifty-two week low of $146.50 and a fifty-two week high of $387.19.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) 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 company had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the business earned $0.86 EPS. Equities research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDB. Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Monday, January 6th. Royal Bank of Canada lowered their price objective on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Scotiabank restated a “sector perform” rating and issued a $240.00 target price (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Wedbush lowered their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group cut 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. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $312.84.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of MongoDB during the 4th quarter worth about $189,584,000. Marshall Wace LLP bought a new position in MongoDB during the fourth quarter valued at approximately $110,356,000. Raymond James Financial Inc. acquired a new stake in MongoDB in the fourth quarter valued at approximately $90,478,000. D1 Capital Partners L.P. bought a new stake in MongoDB in the fourth quarter worth approximately $76,129,000. Finally, Amundi increased its stake in shares of MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after purchasing an additional 321,186 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.