MongoDB (NASDAQ:MDB) CEO Sells $10,038,982.80 in Stock

Key Points

• Dev Ittycheria, CEO of MongoDB, sold 33,320 shares for approximately $10 million, reducing his ownership by 14.09% to about 203,237 shares valued at $61.23 million.
• MongoDB's stock price increased by 0.8% to $318.29, with a significant trading volume of 4.18 million shares compared to its average of 2.53 million.
• Several analysts have raised their target prices for MongoDB stock, with projections ranging from $310 to $360, indicating a positive outlook for the company's performance.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) CEO Dev Ittycheria sold 33,320 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the completion of the sale, the chief executive officer owned 203,237 shares of the company's stock, valued at approximately $61,233,275.73. This trade represents a 14.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 transaction of $2,032,823.15.
• On Thursday, July 24th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The stock was sold at an average price of $231.99, for a total value of $1,933,636.65.
• 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 shares were sold at an average price of $234.00, for a total transaction of $5,851,170.00.

MongoDB Stock Up 0.8%

Shares of MDB stock traded up $2.68 during trading hours on Tuesday, hitting $318.29. 4,180,839 shares of the company's stock traded hands, compared to its average volume of 2,532,486. The stock's fifty day simple moving average is $225.17 and its two-hundred day simple moving average is $206.28. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The stock has a market cap of $26.01 billion, a price-to-earnings ratio of -324.79 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. MongoDB has set its FY 2026 guidance at 2.940-3.120 EPS. Q2 2026 guidance at 0.620-0.660 EPS. On average, equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MDB shares. Guggenheim upped their target price on shares of MongoDB from $260.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Monness Crespi & Hardt boosted their price target on MongoDB from $295.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Oppenheimer raised their target price on shares of MongoDB from $275.00 to $325.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. BMO Capital Markets upped their price target on shares of MongoDB from $280.00 to $315.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Finally, Cantor Fitzgerald increased their price objective on shares of MongoDB from $271.00 to $312.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $310.86.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the company. 111 Capital purchased a new stake in MongoDB in the fourth quarter worth $390,000. Park Avenue Securities LLC increased its stake in MongoDB by 52.6% in the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock worth $461,000 after buying an additional 907 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in MongoDB by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock valued at $1,359,000 after buying an additional 298 shares in the last quarter. Sowell Financial Services LLC bought a new stake in MongoDB during the 1st quarter valued at about $263,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of MongoDB by 57.2% in the first quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock valued at $219,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

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.

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