MongoDB, Inc. (NASDAQ:MDB) CEO Sells $37,687,500.00 in Stock

MongoDB, Inc. (NASDAQ:MDB) CEO Dev Ittycheria sold 100,500 shares of MongoDB stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $375.00, for a total transaction of $37,687,500.00. Following the completion of the transaction, the chief executive officer now owns 214,177 shares in the company, valued at approximately $80,316,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, October 2nd, Dev Ittycheria sold 4,567 shares of MongoDB stock. The stock was sold at an average price of $342.40, for a total transaction of $1,563,740.80.
• On Tuesday, September 26th, Dev Ittycheria sold 134,000 shares of MongoDB stock. The stock was sold at an average price of $327.20, for a total transaction of $43,844,800.00.

MongoDB Stock Performance

Shares of MDB opened at $376.89 on Friday. The company’s fifty day moving average price is $353.88 and its 200 day moving average price is $352.40. MongoDB, Inc. has a one year low of $137.70 and a one year high of $439.00. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.48 and a quick ratio of 4.48. The company has a market capitalization of $26.89 billion, a PE ratio of -108.93 and a beta of 1.16.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, August 31st. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.07. MongoDB had a negative net margin of 16.21% and a negative return on equity of 29.69%. The company had revenue of $423.79 million for the quarter, compared to the consensus estimate of $389.93 million. As a group, analysts expect that MongoDB, Inc. will post -2.17 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Macquarie lifted their price objective on shares of MongoDB from $434.00 to $456.00 in a research report on Friday, September 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $445.00 price objective on shares of MongoDB in a research report on Friday, September 1st. Argus lifted their target price on shares of MongoDB from $435.00 to $484.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. Oppenheimer lifted their target price on shares of MongoDB from $430.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, September 1st. Finally, Bank of America began coverage on shares of MongoDB in a research note on Thursday, October 12th. They set a “buy” rating and a $450.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $416.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. abrdn plc increased its stake in MongoDB by 79.7% in the first quarter. abrdn plc now owns 12,019 shares of the company’s stock valued at $2,802,000 after acquiring an additional 5,331 shares during the period. Raymond James & Associates increased its stake in MongoDB by 227.2% in the second quarter. Raymond James & Associates now owns 39,361 shares of the company’s stock valued at $16,177,000 after acquiring an additional 27,331 shares during the period. Moody Lynn & Lieberson LLC bought a new stake in MongoDB in the first quarter valued at about $7,433,000. Empower Advisory Group LLC bought a new stake in MongoDB in the first quarter valued at about $7,302,000. Finally, Daiwa Securities Group Inc. increased its stake in MongoDB by 3.5% in the first quarter. Daiwa Securities Group Inc. now owns 5,461 shares of the company’s stock valued at $1,273,000 after acquiring an additional 186 shares during the period. Institutional investors own 88.89% of the company’s stock.

About MongoDB

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.