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 business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, January 2nd, Dev Ittycheria sold 2,581 shares of MongoDB stock. The stock was sold at an average price of $234.09, for a total value of $604,186.29.

MongoDB Trading Up 1.1 %

Shares of NASDAQ MDB traded up $2.84 during trading on Wednesday, reaching $260.70. 1,293,413 shares of the company traded hands, compared to its average volume of 1,521,145. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62. The stock has a market cap of $19.41 billion, a P/E ratio of -95.15 and a beta of 1.25. The firm’s fifty day simple moving average is $277.47 and its 200 day simple moving average is $269.11.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. As a group, research analysts expect that MongoDB, Inc. will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares during the period. Geode Capital Management LLC grew its position in shares of MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after purchasing an additional 7,526 shares in the last quarter. Holocene Advisors LP raised its position in shares of MongoDB by 22.6% during the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after purchasing an additional 66,730 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in MongoDB by 11,057.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after buying an additional 294,228 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MDB. Cantor Fitzgerald assumed coverage on MongoDB in a research report on Friday, January 17th. They set an “overweight” rating and a $344.00 target price for the company. Rosenblatt Securities started coverage on shares of MongoDB in a report on Tuesday, December 17th. They set a “buy” rating and a $350.00 price objective for the company. Scotiabank dropped their target price on shares of MongoDB from $350.00 to $275.00 and set a “sector perform” rating on the stock in a research note on Tuesday. DA Davidson lifted their price target on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price objective on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $361.00.

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.