Insider Selling: MongoDB, Inc. (NASDAQ:MDB) CEO Sells $3,207,389.12 in Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 18,512 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares of the company’s stock, valued at $46,597,930.48. The trade was a 6.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Dev Ittycheria also recently made the following trade(s):

• On Wednesday, February 26th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80.
• On Tuesday, January 28th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The shares were sold at an average price of $279.99, for a total value of $2,333,716.65.
• On Friday, January 17th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10.

MongoDB Stock Down 5.5 %

MDB stock opened at $154.39 on Friday. The company’s 50-day moving average price is $236.68 and its two-hundred day moving average price is $262.08. The firm has a market cap of $12.53 billion, a P/E ratio of -56.35 and a beta of 1.49. MongoDB, Inc. has a 12 month low of $151.52 and a 12 month high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same period last year, the business earned $0.86 earnings per share. Equities analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Tigress Financial upped their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group cut their target price on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Daiwa Capital Markets began coverage on MongoDB in a research note on Tuesday. They issued an “outperform” rating and a $202.00 price objective on the stock. Monness Crespi & Hardt upgraded MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Finally, Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned 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 $312.84.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently modified their holdings of MDB. OneDigital Investment Advisors LLC lifted its stake in 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. Hilltop National Bank lifted its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of MongoDB by 2.0% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after acquiring an additional 42 shares in the last quarter. Aigen Investment Management LP grew its position in MongoDB by 1.4% during the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock worth $913,000 after acquiring an additional 55 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in MongoDB by 2.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock worth $627,000 after purchasing an additional 66 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.