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

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 2,581 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction 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. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

MongoDB Stock Performance

NASDAQ:MDB traded up $6.47 during trading on Monday, reaching $252.86. The company’s stock had a trading volume of 1,932,889 shares, compared to its average volume of 2,013,383. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of -92.28 and a beta of 1.25. The firm has a 50 day moving average of $284.50 and a 200-day moving average of $268.59.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business 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 posted $0.96 earnings per share. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities research analysts forecast that MongoDB, Inc. will post -1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MDB. Oppenheimer upped their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. DA Davidson lifted their target price on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Macquarie started coverage on shares of MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective for the company. Finally, Mizuho upped their target price on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average target price of $367.14.

Institutional Trading of MongoDB

A number of institutional investors have recently modified their holdings of the business. Quarry LP grew its position in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. Brooklyn Investment Group bought a new position in MongoDB in the 3rd quarter worth about $36,000. GAMMA Investing LLC grew its holdings 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 buying an additional 93 shares in the last quarter. Continuum Advisory LLC increased its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the period. Finally, Asset Dedication LLC purchased a new stake in shares of MongoDB in the second quarter worth about $41,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.