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 that occurred on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total value of $2,333,716.65. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $60,840,147.06. The trade was a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• 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 transaction 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 Stock Performance

Shares of MDB traded up $2.25 during mid-day trading on Friday, hitting $273.32. 1,553,010 shares of the stock were exchanged, compared to its average volume of 1,458,771. The firm has a 50-day moving average of $272.39 and a two-hundred day moving average of $269.78. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62. The company has a market cap of $20.35 billion, a PE ratio of -99.75 and a beta of 1.25.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. MongoDB's revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised their target price on MongoDB from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Oppenheimer raised their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. KeyCorp boosted their target price on shares of MongoDB from $330.00 to $375.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $425.00 price target on shares of MongoDB in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald initiated coverage on MongoDB in a report on Friday, January 17th. They set an "overweight" rating and a $344.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $361.00.

Institutional Investors Weigh In On MongoDB

Several large investors have recently added to or reduced their stakes in the stock. Hilltop National Bank raised its position 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 purchasing an additional 42 shares in the last quarter. Quarry LP increased its position 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 purchasing an additional 129 shares during the period. Brooklyn Investment Group purchased a new stake in shares of MongoDB in the 3rd quarter worth approximately $36,000. Continuum Advisory LLC raised its stake in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after buying an additional 118 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position 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 acquiring an additional 93 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

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.