Bourgeon Capital Management LLC Buys Shares of 40,060 MongoDB, Inc. (NASDAQ:MDB)

Bourgeon Capital Management LLC purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,060 shares of the company's stock, valued at approximately $7,027,000. MongoDB comprises about 1.5% of Bourgeon Capital Management LLC's portfolio, making the stock its 29th biggest position.

A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of MongoDB during the 4th quarter valued at $189,584,000. Marshall Wace LLP acquired a new position in shares of MongoDB during the fourth quarter worth about $110,356,000. Raymond James Financial Inc. purchased a new position in MongoDB in the 4th quarter worth approximately $90,478,000. D1 Capital Partners L.P. acquired a new stake in MongoDB in the fourth quarter valued at approximately $76,129,000. Finally, Amundi raised its stake in shares of MongoDB by 86.2% during the fourth quarter. Amundi now owns 693,740 shares of the company's stock valued at $172,519,000 after purchasing an additional 321,186 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDB has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Citigroup decreased their price objective on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Monness Crespi & Hardt raised MongoDB from a "sell" rating to a "neutral" rating in a research report on Monday, March 3rd. Mizuho cut their price target on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Piper Sandler lowered their price objective on MongoDB from $280.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MongoDB has a consensus rating of "Moderate Buy" and an average target price of $286.88.

MongoDB Price Performance

Shares of MDB traded up $5.98 during trading hours on Wednesday, reaching $199.73. 6,314,840 shares of the company's stock traded hands, compared to its average volume of 1,903,711. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The business's fifty day simple moving average is $174.22 and its two-hundred day simple moving average is $231.03. The firm has a market capitalization of $16.22 billion, a price-to-earnings ratio of -72.89 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.98). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. On average, equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, CFO Srdjan Tanjga sold 525 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the sale, the chief financial officer now owns 6,406 shares in the company, valued at $1,109,903.56. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,175 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the transaction, the director now directly owns 19,333 shares of the company's stock, valued at $3,377,281.77. This represents a 5.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,203 shares of company stock valued at $3,848,569. 3.10% of the stock is 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.