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

Key Points

• MongoDB, Inc. CEO Dev Ittycheria sold 8,335 shares at an average price of $231.99, totaling $1.93 million, resulting in a 3.29% decrease in his holdings.
• MongoDB reported a 21.8% annual revenue increase to $549.01 million and beat analysts' earnings estimates for the quarter by $0.35.
• Analysts have a consensus rating of "Moderate Buy" for MongoDB stock, with a price target averaging $281.31, reflecting strong investor confidence.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $231.99, for a total value of $1,933,636.65. Following the completion of the sale, the chief executive officer directly owned 244,892 shares in the company, valued at $56,812,495.08. This represents a 3.29% decrease in their ownership of the stock. The sale 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 Monday, July 28th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The stock was sold at an average price of $243.89, for a total value of $2,032,823.15.
• On Wednesday, July 2nd, Dev Ittycheria sold 3,747 shares of MongoDB stock. The stock was sold at an average price of $206.05, for a total value of $772,069.35.
• On Thursday, June 5th, Dev Ittycheria sold 25,005 shares of MongoDB stock. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $2.53 on Wednesday, hitting $243.41. 441,007 shares of the company's stock were exchanged, compared to its average volume of 2,283,968. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The company has a market capitalization of $19.89 billion, a PE ratio of -213.45 and a beta of 1.41. The firm's 50-day moving average is $208.62 and its 200 day moving average is $212.38.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same period in the previous year, the business earned $0.51 EPS. The business's quarterly revenue was up 21.8% on a year-over-year basis. On average, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MDB. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Scotiabank lifted their target price on MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Loop Capital downgraded MongoDB from a "buy" rating to a "hold" rating and reduced their target price for the company from $350.00 to $190.00 in a research report on Tuesday, May 20th. DA Davidson restated a "buy" rating and issued a $275.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Finally, Cantor Fitzgerald lifted their target price on MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB currently has a consensus rating of "Moderate Buy" and an average price target of $281.31.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in the company. OneDigital Investment Advisors LLC lifted its holdings in shares of MongoDB by 3.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock valued at $243,000 after purchasing an additional 39 shares during the last quarter. Handelsbanken Fonder AB raised its stake in MongoDB by 0.4% during the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after acquiring an additional 65 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in MongoDB by 4.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock valued at $383,000 after acquiring an additional 75 shares during the last quarter. Wedbush Securities Inc. raised its stake in MongoDB by 2.6% during the 1st quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock valued at $530,000 after acquiring an additional 77 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in MongoDB by 15.9% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company's stock valued at $100,000 after acquiring an additional 78 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other 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.