Virtu Financial LLC Sells 7,679 Shares of MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Virtu Financial LLC has reduced its stake in MongoDB, Inc. by 38%, now holding 12,523 shares worth approximately $2.2 million after selling 7,679 shares during the first quarter.
• Many large investors, including Primecap Management Co. and Vanguard Group Inc., have significantly increased their positions in MongoDB, with institutional investors now owning 89.29% of the company.
• MongoDB recently reported earnings exceeding expectations, with a revenue growth of 21.8% year-over-year, leading analysts to predict a consensus target price of $281.31 for the stock.

Virtu Financial LLC decreased its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 38.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,523 shares of the company's stock after selling 7,679 shares during the period. Virtu Financial LLC's holdings in MongoDB were worth $2,196,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MDB. Primecap Management Co. CA increased its position in shares of MongoDB by 863.5% during the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after acquiring an additional 780,200 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in MongoDB in the first quarter valued at $128,706,000. Vanguard Group Inc. grew its position in MongoDB by 6.6% in the first quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after purchasing an additional 481,023 shares in the last quarter. Marshall Wace LLP bought a new position in MongoDB in the fourth quarter valued at $110,356,000. Finally, Deutsche Bank AG grew its position in MongoDB by 134.6% in the first quarter. Deutsche Bank AG now owns 690,774 shares of the company's stock valued at $121,162,000 after purchasing an additional 396,311 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDB. JMP Securities reaffirmed a "market outperform" rating and issued a $345.00 target price on shares of MongoDB in a research report on Thursday, June 5th. BMO Capital Markets assumed coverage on shares of MongoDB in a research note on Monday, July 28th. They issued an "outperform" rating and a $280.00 price target for the company. Loop Capital cut shares of MongoDB from a "buy" rating to a "hold" rating and cut their price target for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. Redburn Atlantic upgraded shares of MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price target for the company in a research note on Thursday, April 17th. Finally, William Blair reiterated an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $281.31.

Insider Buying and Selling

In related news, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. This represents a 5.27% decrease in their position. The transaction 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 company's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 of the company's stock, valued at approximately $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,416 shares of company stock worth $11,936,656 in the last three months. 3.10% of the stock is owned by corporate insiders.

MongoDB Trading Down 8.2%

Shares of NASDAQ:MDB opened at $209.18 on Friday. The firm has a 50 day moving average of $215.26 and a 200-day moving average of $211.22. The stock has a market capitalization of $17.09 billion, a PE ratio of -183.49 and a beta of 1.44. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. On average, research analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

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.

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