Dev Ittycheria Sells 40,000 Shares of MongoDB (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the transaction, the director directly owned 161,762 shares in the company, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

MongoDB Stock Performance

Shares of MDB opened at $340.28 on Wednesday. The firm has a market cap of $27.37 billion, a PE ratio of -919.68, a PEG ratio of 1,271.53 and a beta of 1.57. The firm’s 50 day moving average price is $289.69 and its 200 day moving average price is $334.44. MongoDB, Inc. has a twelve month low of $196.00 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same quarter last year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. On average, sell-side analysts anticipate that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pine Valley Investments Ltd Liability Co grew its stake in shares of MongoDB by 2.5% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 2,058 shares of the company’s stock worth $504,000 after acquiring an additional 51 shares during the last quarter. Caerus Investment Advisors LLC boosted its stake in MongoDB by 19.4% during the first quarter. Caerus Investment Advisors LLC now owns 819 shares of the company’s stock worth $200,000 after buying an additional 133 shares in the last quarter. Groupama Asset Managment boosted its stake in MongoDB by 2.2% during the first quarter. Groupama Asset Managment now owns 15,147 shares of the company’s stock worth $3,708,000 after buying an additional 325 shares in the last quarter. Bank of America Corp DE boosted its stake in MongoDB by 0.3% during the first quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock worth $135,922,000 after buying an additional 1,852 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in MongoDB by 9.5% during the first quarter. Centaurus Financial Inc. now owns 2,319 shares of the company’s stock worth $568,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on MDB shares. Monness Crespi & Hardt increased their price target on MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a report on Friday, May 29th. Piper Sandler increased their price target on MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, May 29th. UBS Group increased their price target on MongoDB from $275.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Finally, Wells Fargo & Company lowered their price target on MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $396.39.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.