MongoDB, Inc. (NASDAQ:MDB) CEO Sells $5,851,170.00 in Stock

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) CEO Dev Ittycheria sold 25,005 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the transaction, the chief executive officer now directly owns 256,974 shares of the company's stock, valued at approximately $60,131,916. This represents a 8.87% 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 Wednesday, April 2nd, Dev Ittycheria sold 18,512 shares of MongoDB stock. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12.

MongoDB Trading Down 1.9%

NASDAQ:MDB traded down $4.20 during mid-day trading on Tuesday, hitting $213.03. 2,516,797 shares of the company's stock were exchanged, compared to its average volume of 1,955,641. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The company has a 50 day simple moving average of $178.26 and a 200-day simple moving average of $228.06. The firm has a market capitalization of $17.30 billion, a P/E ratio of -77.75 and a beta of 1.39.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same period in the prior year, the business posted $0.51 earnings per share. The company's revenue was up 21.8% on a year-over-year basis. As a group, analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently made changes to their positions in the stock. Cloud Capital Management LLC acquired a new position in shares of MongoDB during the first quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new position in MongoDB in the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its holdings in MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after acquiring an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB in the fourth quarter valued at approximately $29,000. Finally, NCP Inc. acquired a new position in shares of MongoDB in the 4th quarter valued at approximately $35,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDB. Cantor Fitzgerald raised their target price on MongoDB from $252.00 to $271.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $320.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Daiwa Capital Markets initiated coverage on MongoDB in a report on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 price target for the company. KeyCorp cut shares of MongoDB from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Scotiabank lifted their target price on shares of MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and a consensus target price of $282.47.

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.