Kazazian Asset Management LLC Trims Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Kazazian Asset Management LLC significantly reduced its stake in MongoDB, Inc. by 53.1%, now holding 2,478 shares valued at approximately $435,000.
• CEO Dev Ittycheria sold 25,005 shares of MongoDB, marking an 8.87% decrease in his ownership, while overall insider sales totaled 51,416 shares valued at about $11.9 million in the last ninety days.
• MongoDB's shares are currently rated as a "Moderate Buy" by analysts, with an average price target of $281.31 after several research firms provided updated ratings and targets.

Kazazian Asset Management LLC reduced its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 53.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,478 shares of the company's stock after selling 2,800 shares during the period. Kazazian Asset Management LLC's holdings in MongoDB were worth $435,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. 111 Capital bought a new stake in MongoDB in the 4th quarter valued at about $390,000. Park Avenue Securities LLC lifted its position in MongoDB by 52.6% in the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock valued at $461,000 after purchasing an additional 907 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in MongoDB by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock valued at $1,359,000 after purchasing an additional 298 shares during the last quarter. Sowell Financial Services LLC bought a new stake in MongoDB in the 1st quarter valued at about $263,000. Finally, Farther Finance Advisors LLC lifted its position in MongoDB by 57.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock valued at $219,000 after purchasing an additional 452 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

Shares of NASDAQ:MDB traded up $7.57 during trading on Wednesday, reaching $235.82. 1,786,166 shares of the stock were exchanged, compared to its average volume of 2,289,430. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The stock has a fifty day moving average of $213.10 and a two-hundred day moving average of $211.90. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of -206.86 and a beta of 1.44.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. Sell-side analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $468,000.00. Following the completion of the transaction, the director owned 1,107,006 shares in the company, valued at $259,039,404. This trade represents a 0.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 25,005 shares of the 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 transaction, the chief executive officer owned 256,974 shares in the company, valued at $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Macquarie reiterated a "neutral" rating and issued a $230.00 target price (up from $215.00) on shares of MongoDB in a report on Friday, June 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a $320.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Guggenheim boosted their price objective on shares of MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Finally, DA Davidson reaffirmed a "buy" rating and set a $275.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $281.31.

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.