Insider Selling: MongoDB, Inc. (NASDAQ:MDB) CEO Sells 18,512 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) CEO Dev Ittycheria sold 18,512 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $2,229,445.80.
• On Tuesday, January 28th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The shares were 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 value of $2,124,258.10.

MongoDB Stock Up 2.2 %

MDB stock traded up $3.14 during trading on Wednesday, hitting $148.99. 655,210 shares of the company's stock traded hands, compared to its average volume of 2,179,992. The stock has a fifty day moving average price of $228.92 and a two-hundred day moving average price of $259.09. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $387.19. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of -54.38 and a beta of 1.49.

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MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same quarter last year, the company earned $0.86 EPS. As a group, equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Tigress Financial raised their target price on MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Bank of America reduced their target price on shares of MongoDB from $420.00 to $286.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Piper Sandler cut their price target on shares of MongoDB from $425.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Guggenheim upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company cut MongoDB from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and an average target price of $312.84.

Institutional Investors Weigh In On MongoDB

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock worth $1,706,205,000 after acquiring an additional 23,942 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock valued at $478,398,000 after purchasing an additional 181,962 shares during the period. Geode Capital Management LLC raised its holdings in shares of MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after buying an additional 22,106 shares during the last quarter. First Trust Advisors LP boosted its position in shares of MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock worth $199,031,000 after buying an additional 95,893 shares during the period. Finally, Norges Bank acquired a new stake in MongoDB in the 4th quarter valued at approximately $189,584,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.