Dev Ittycheria Sells 3,556 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 3,556 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $911,225.00. Following the completion of the sale, the chief executive officer now owns 219,875 shares in the company, valued at approximately $56,342,968.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $265.36 on Friday. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The business has a 50-day simple moving average of $261.97 and a two-hundred day simple moving average of $290.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of -94.43 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the previous year, the firm earned ($0.63) EPS. MongoDB’s revenue was up 12.8% on a year-over-year basis. On average, analysts expect that MongoDB, Inc. will post -2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MDB. Truist Financial boosted their target price on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Morgan Stanley boosted their target price on shares of MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 30th. DA Davidson boosted their target price on shares of MongoDB from $265.00 to $330.00 and gave the company a “buy” rating in a report on Friday, August 30th. Sanford C. Bernstein boosted their target price on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Citigroup boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.56.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the business. Transcendent Capital Group LLC purchased a new stake in shares of MongoDB during the 4th quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new position in shares of MongoDB during the 2nd quarter valued at approximately $25,000. YHB Investment Advisors Inc. bought a new position in shares of MongoDB during the 1st quarter valued at approximately $41,000. Sunbelt Securities Inc. grew its stake in shares of MongoDB by 155.1% during the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock valued at $45,000 after acquiring an additional 76 shares during the period. Finally, J.Safra Asset Management Corp grew its stake in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.