Dev Ittycheria Sells 8,335 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $58,121,799.12. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

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

MongoDB Price Performance

MDB traded down $4.64 on Tuesday, hitting $254.38. The company had a trading volume of 1,684,121 shares, compared to its average volume of 1,598,739. The stock has a fifty day simple moving average of $263.28 and a 200-day simple moving average of $275.36. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $428.91. The firm has a market capitalization of $18.94 billion, a P/E ratio of -92.84 and a beta of 1.28.

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MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period last year, the business earned $0.96 earnings per share. The business's revenue was up 22.3% on a year-over-year basis. Equities research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent analyst reports. The Goldman Sachs Group raised their price target on MongoDB from $340.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Citigroup increased their price objective on MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Macquarie initiated coverage on MongoDB in a research report on Thursday, December 12th. They set a "neutral" rating and a $300.00 price objective on the stock. Royal Bank of Canada increased their price objective on MongoDB from $350.00 to $400.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Finally, Loop Capital reduced their price objective on MongoDB from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and an average price target of $361.83.

Hedge Funds Weigh In On MongoDB

Large investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $29,000. Hilltop National Bank increased its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. NCP Inc. bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $35,000. Brooklyn Investment Group bought a new stake in shares of MongoDB during the third quarter valued at approximately $36,000. Finally, 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 acquiring an additional 118 shares in the last quarter. 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.