Kazazian Asset Management LLC Trims Stock Position 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 decreased its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 53.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,478 shares of the company's stock after selling 2,800 shares during the quarter. Kazazian Asset Management LLC's holdings in MongoDB were worth $435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of MongoDB during the 4th quarter valued at approximately $29,000. Cloud Capital Management LLC purchased a new position in MongoDB during the first quarter worth $25,000. Hollencrest Capital Management purchased a new position in MongoDB during the first quarter worth $26,000. Cullen Frost Bankers Inc. boosted its stake in MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after buying an additional 120 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its stake in MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after buying an additional 182 shares during the period. Institutional investors own 89.29% of the company's stock.

MongoDB Stock Down 7.1%

Shares of MongoDB stock traded down $16.92 during trading on Friday, reaching $220.97. The company's stock had a trading volume of 3,019,213 shares, compared to its average volume of 2,199,258. The company has a market cap of $18.06 billion, a price-to-earnings ratio of -193.83 and a beta of 1.44. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The company has a 50-day simple moving average of $211.50 and a two-hundred day simple moving average of $211.98.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The firm had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business's quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. As a group, analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

MDB has been the subject of several recent analyst reports. Mizuho dropped their price objective on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Macquarie reaffirmed a "neutral" rating and set a $230.00 price objective (up from $215.00) on shares of MongoDB in a research note on Friday, June 6th. Wolfe Research initiated coverage on shares of MongoDB in a research note on Wednesday, July 9th. They set an "outperform" rating and a $280.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. Finally, Wedbush reaffirmed an "outperform" rating and set a $300.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and an average target price of $281.31.

Insider Transactions at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $243.89, for a total transaction of $2,032,823.15. Following the sale, the chief executive officer owned 236,557 shares in the company, valued at approximately $57,693,886.73. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the transaction, the director directly owned 1,104,316 shares in the company, valued at $270,557,420. This represents a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,416 shares of company stock valued at $11,936,656 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

MongoDB 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.