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

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 2,581 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value 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. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

MongoDB Stock Up 2.6 %

NASDAQ:MDB opened at $252.86 on Tuesday. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The stock’s 50-day simple moving average is $284.11 and its 200 day simple moving average is $269.17. The firm has a market capitalization of $18.83 billion, a PE ratio of -92.28 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last announced its quarterly 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. The company had revenue of $529.40 million for 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 revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. On average, analysts anticipate that MongoDB, Inc. will post -1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Everence Capital Management Inc. acquired a new stake in shares of MongoDB during the 4th quarter valued at $624,000. Versant Capital Management Inc boosted its stake in shares of MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after purchasing an additional 165 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of MongoDB by 2.7% during the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after purchasing an additional 160 shares during the last quarter. Tidal Investments LLC increased its stake in shares of MongoDB by 76.8% in the third quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock valued at $2,125,000 after buying an additional 3,415 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in MongoDB in the 3rd quarter valued at approximately $44,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a report on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Rosenblatt Securities assumed coverage on MongoDB in a research report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Truist Financial reissued a “buy” rating and set a $400.00 price target (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $367.14.

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.