Dev Ittycheria Sells 8,335 Shares of MongoDB, Inc. (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $58,121,799.12. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $2,333,716.65.
• On Friday, January 17th, Dev Ittycheria sold 8,335 shares of MongoDB stock. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10.
• On Thursday, January 2nd, Dev Ittycheria sold 2,581 shares of MongoDB stock. The shares were sold at an average price of $234.09, for a total transaction of $604,186.29.

MongoDB Stock Up 1.9 %

Shares of MongoDB stock opened at $267.43 on Friday. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $449.12. The company has a 50-day simple moving average of $262.30 and a two-hundred day simple moving average of $274.58. The stock has a market capitalization of $19.92 billion, a price-to-earnings ratio of -97.60 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last issued 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 company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 EPS. On average, sell-side analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research report on Wednesday, December 11th. Monness Crespi & Hardt downgraded shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective for the company. in a research report on Monday, December 16th. Rosenblatt Securities began coverage on shares of MongoDB in a research report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price objective for the company. Barclays decreased their price objective on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, Cantor Fitzgerald began coverage on shares of MongoDB in a research report on Friday, January 17th. They issued an “overweight” rating and a $344.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of MongoDB by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of MongoDB by 12.6% during the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after purchasing an additional 95,893 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

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.