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

MongoDB, Inc. (NASDAQ:MDBGet Free Report) CEO Dev Ittycheria sold 2,581 shares of the firm’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 transaction of $604,186.29. Following the completion of the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $50,866,352.46. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

MongoDB Stock Performance

Shares of MDB stock opened at $245.96 on Wednesday. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of -89.77 and a beta of 1.25. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The company’s 50-day simple moving average is $284.11 and its 200-day simple moving average is $269.17.

MongoDB (NASDAQ:MDBGet Free Report) last issued its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same quarter last year, the firm earned $0.96 EPS. The business’s revenue was up 22.3% on a year-over-year basis. As a group, research analysts forecast that MongoDB, Inc. will post -1.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MDB shares. DA Davidson lifted their price target on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt cut MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price on the stock. in a report on Monday, December 16th. Barclays upped their price target on MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research note on Tuesday, December 10th. Finally, Truist Financial reissued a “buy” rating and set a $400.00 target price (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $367.14.

Check Out Our Latest Analysis on MDB

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its position in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares during the period. Point72 Asset Management L.P. bought a new position in MongoDB in the second quarter worth about $52,131,000. Avala Global LP acquired a new position in MongoDB in the third quarter valued at approximately $47,960,000. Finally, Renaissance Technologies LLC grew its holdings in shares of MongoDB by 828.9% during the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after purchasing an additional 163,300 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

About MongoDB

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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.

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