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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) CEO Dev Ittycheria sold 2,581 shares of MongoDB stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $604,186.29. Following the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at $50,866,352.46. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

MongoDB Price Performance

Shares of MDB traded up $6.47 during midday trading on Monday, hitting $252.86. 1,941,689 shares of the company traded hands, compared to its average volume of 2,023,850. The stock has a 50-day moving average of $284.11 and a 200-day moving average of $269.17. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The firm has a market cap of $18.83 billion, a P/E ratio of -92.28 and a beta of 1.25.

MongoDB (NASDAQ:MDB - Get Free Report) last issued 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 return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. MongoDB's revenue was up 22.3% on a year-over-year basis. Sell-side analysts forecast that MongoDB, Inc. will post -1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Truist Financial reaffirmed a "buy" rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Rosenblatt Securities assumed coverage on shares of MongoDB in a report on Tuesday, December 17th. They set a "buy" rating and a $350.00 price objective on the stock. DA Davidson lifted their price objective on shares of MongoDB from $340.00 to $405.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Guggenheim raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price target on the stock in a report on Monday. Finally, Wells Fargo & Company boosted 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $367.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MDB. Jennison Associates LLC grew its holdings in shares of MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock worth $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company's stock worth $106,084,000 after purchasing an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in MongoDB in the second quarter worth approximately $52,131,000. Avala Global LP purchased a new stake in MongoDB in the third quarter worth approximately $47,960,000. Finally, Renaissance Technologies LLC boosted its stake in MongoDB by 828.9% in the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company's stock worth $45,743,000 after buying an additional 163,300 shares in 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.