MongoDB, Inc. (NASDAQ:MDB) CEO Sells $5,851,170.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 25,005 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the completion of the transaction, the chief executive officer now directly owns 256,974 shares in the company, valued at approximately $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, April 2nd, Dev Ittycheria sold 18,512 shares of MongoDB stock. The shares were sold at an average price of $173.26, for a total transaction of $3,207,389.12.

MongoDB Stock Performance

Shares of MDB traded down $2.91 during mid-day trading on Monday, hitting $217.23. 2,258,266 shares of the company traded hands, compared to its average volume of 1,954,291. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The stock has a market cap of $17.64 billion, a price-to-earnings ratio of -79.28 and a beta of 1.39. The stock has a 50-day moving average price of $176.52 and a two-hundred day moving average price of $228.97.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 EPS. On average, analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Institutional Trading of MongoDB

Several institutional investors have recently made changes to their positions in the business. Jericho Capital Asset Management L.P. bought a new position in MongoDB in the 1st quarter worth approximately $161,543,000. Norges Bank bought a new position in shares of MongoDB during the 4th quarter valued at approximately $189,584,000. Primecap Management Co. CA lifted its holdings in shares of MongoDB by 863.5% in the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company’s stock worth $152,694,000 after acquiring an additional 780,200 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in MongoDB in the 1st quarter valued at $128,706,000. Finally, Vanguard Group Inc. increased its holdings in MongoDB by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company’s stock worth $1,369,833,000 after purchasing an additional 481,023 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Canaccord Genuity Group lowered their price target on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. UBS Group raised their price objective on shares of MongoDB from $213.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday. Wells Fargo & Company downgraded MongoDB from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. Loop Capital cut MongoDB from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. Finally, Macquarie reissued a “neutral” rating and issued a $230.00 target price (up previously from $215.00) on shares of MongoDB in a research report on Friday. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $282.47.

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.