Insider Selling: MongoDB, Inc. (NASDAQ:MDB) CEO Sells 2,581 Shares of Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 2,581 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $604,186.29. Following the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $50,866,352.46. The trade was a 1.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MongoDB Price Performance

Shares of MongoDB stock traded up $6.47 on Monday, hitting $252.86. The company had a trading volume of 1,932,889 shares, compared to its average volume of 2,013,383. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The stock has a 50-day moving average of $284.50 and a 200-day moving average of $268.59. The firm has a market capitalization of $18.83 billion, a P/E ratio of -92.28 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. Equities analysts predict that MongoDB, Inc. will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its stake in shares of MongoDB by 13.1% during the 2nd quarter. TD Asset Management Inc now owns 108,206 shares of the company’s stock worth $27,047,000 after buying an additional 12,554 shares during the last quarter. Arizona State Retirement System raised its holdings in MongoDB by 0.6% during the second quarter. Arizona State Retirement System now owns 19,981 shares of the company’s stock worth $4,994,000 after acquiring an additional 129 shares in the last quarter. Private Advisor Group LLC boosted its position in MongoDB by 167.4% during the second quarter. Private Advisor Group LLC now owns 6,324 shares of the company’s stock valued at $1,581,000 after purchasing an additional 3,959 shares during the last quarter. Asset Dedication LLC acquired a new position in shares of MongoDB during the 2nd quarter worth approximately $41,000. Finally, Acadian Asset Management LLC increased its position in shares of MongoDB by 1,677.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,679 shares of the company’s stock worth $916,000 after purchasing an additional 3,472 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays increased their price target on MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Scotiabank upped their price objective on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. KeyCorp boosted their price target on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Rosenblatt Securities assumed coverage on shares of MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price on the stock. Two 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $367.14.

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.