In recent transactions reported to the Securities and Exchange Commission, Dev Ittycheria, President and CEO of MongoDB , Inc. (NASDAQ:MDB), sold a significant portion of his holdings in the company. On January 17, Ittycheria sold a total of 8,335 shares of MongoDB's Class A Common Stock, generating proceeds of approximately $2.12 million. The shares were sold at prices ranging from $254.15 to $255.17 per share. The transaction occurred as MongoDB, currently valued at $19.37 billion, trades near $260 per share, showing strong revenue growth of 21% year-over-year.
In addition to the sales, Ittycheria also exercised stock options to acquire 8,335 shares at a price of $6.50 per share, amounting to a total cost of $54,177. These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a trading plan for selling stocks they own. According to InvestingPro data, 24 analysts have recently revised their earnings estimates upward for MongoDB, with analyst price targets ranging from $180 to $520.
Following these transactions, Ittycheria holds 217,294 shares of MongoDB directly. The moves come as MongoDB continues to navigate the competitive landscape of the software industry, with its stock performance closely watched by investors. Get deeper insights into MongoDB's valuation and growth prospects with InvestingPro, which offers exclusive access to over 30 key financial metrics and expert analysis.
In other recent news, MongoDB, a leader in the NoSQL database market, has seen several significant developments. The company reported a 22% year-over-year increase in revenue in Q3 of 2025, reaching $529.4 million. MongoDB's core product, the cloud-native MongoDB Atlas (NYSE:ATCO), accounted for 71% of the company's total revenue in Q3 of 2025.
Several analyst firms have offered their perspectives on MongoDB. Cantor Fitzgerald initiated coverage on MongoDB with an Overweight rating and a price target of $344.00. Guggenheim upgraded MongoDB shares from Neutral to Buy, setting a $300 price target. Tigress Financial Partners maintained a Buy rating, raising its price target to $430.00. However, Monness, Crespi, Hardt downgraded MongoDB's shares to Sell, citing a slowdown in growth for MongoDB Atlas and the recent resignation of the CFO.
MongoDB recently issued shares and redeemed convertible notes, aligning with the company's financial strategies. The company issued 5,662,979 shares of its common stock in this process. The company also announced the release of MongoDB 8.0, featuring 45 architectural improvements expected to bring performance enhancements, cost reductions, and additional scalability, resilience, and data security features. These are some of the recent developments for MongoDB.
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