MongoDB, Inc. (NASDAQ:MDB) CEO Sells $2,229,445.80 in Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction on 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 transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $58,121,799.12. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 transaction 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 transaction of $2,124,258.10.
• On Thursday, January 2nd, Dev Ittycheria sold 2,581 shares of MongoDB stock. The stock was sold at an average price of $234.09, for a total transaction of $604,186.29.

MongoDB Stock Performance

MDB opened at $267.43 on Monday. The company has a market cap of $19.92 billion, a PE ratio of -97.60 and a beta of 1.28. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $449.12. The firm has a 50 day moving average price of $262.73 and a 200 day moving average price of $275.05.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million during 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 business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, sell-side analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of MongoDB in the fourth quarter valued at about $13,270,000. Azzad Asset Management Inc. ADV boosted its holdings in MongoDB by 17.7% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock worth $1,750,000 after acquiring an additional 1,132 shares during the period. Infinitum Asset Management LLC acquired a new stake in MongoDB in the fourth quarter valued at approximately $8,148,000. Polar Asset Management Partners Inc. purchased a new stake in shares of MongoDB during the fourth quarter valued at approximately $14,458,000. Finally, Mackenzie Financial Corp raised its stake in shares of MongoDB by 47.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,731 shares of the company’s stock valued at $1,334,000 after purchasing an additional 1,854 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. KeyCorp upped their target price on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company upped their price objective on MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. China Renaissance initiated coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective for the company. Rosenblatt Securities started coverage on shares of MongoDB in a research note on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price for the company. Finally, Needham & Company LLC raised their price target on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $361.00.

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.