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 company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, January 2nd, Dev Ittycheria sold 2,581 shares of MongoDB stock. The stock was sold at an average price of $234.09, for a total transaction of $604,186.29.

MongoDB Trading Down 0.0 %

MongoDB stock opened at $260.62 on Friday. The firm has a 50 day moving average of $275.99 and a 200 day moving average of $268.99. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of -95.12 and a beta of 1.25. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. On average, analysts predict that MongoDB, Inc. will post -1.79 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MDB shares. Loop Capital upped their price target on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. DA Davidson upped their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. KeyCorp upped their target price on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group upped their target price on shares of MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $361.00.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently added to or reduced their stakes in MDB. Hilltop National Bank grew its holdings 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 buying an additional 42 shares in the last quarter. Quarry LP grew its holdings 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 buying an additional 129 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of MongoDB during the 3rd quarter valued at approximately $36,000. GAMMA Investing LLC boosted its position in shares of 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 during the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of 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 during the last quarter. 89.29% of the stock is 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.