Bourgeon Capital Management LLC Sells 1,219 Shares of MongoDB, Inc. $MDB

Key Points

• Bourgeon Capital Management LLC has reduced its holdings in MongoDB, Inc. by 3.0%, selling 1,219 shares in the second quarter, and now holds a total of 38,841 shares valued at approximately $8.16 million.
• Several institutional investors have increased their stakes in MongoDB, including Vanguard Group with a 6.6% boost and Primecap Management Co. with a notable 863.5% increase.
• MongoDB analysts are optimistic, with major firms raising their price targets, such as Goldman Sachs from $325.00 to $370.00 and Piper Sandler from $345.00 to $400.00, while maintaining a consensus rating of "Moderate Buy."

Bourgeon Capital Management LLC lessened its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,841 shares of the company's stock after selling 1,219 shares during the period. MongoDB accounts for 1.6% of Bourgeon Capital Management LLC's investment portfolio, making the stock its 28th biggest position. Bourgeon Capital Management LLC's holdings in MongoDB were worth $8,156,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of MongoDB by 6.6% during the 1st 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of MongoDB by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company's stock valued at $223,011,000 after purchasing an additional 129,451 shares in the last quarter. Amundi boosted its stake in shares of MongoDB by 53.0% during the 1st quarter. Amundi now owns 1,061,457 shares of the company's stock valued at $173,378,000 after purchasing an additional 367,717 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of MongoDB during the 1st quarter valued at about $161,543,000. Finally, Primecap Management Co. CA boosted its stake in shares of MongoDB by 863.5% during the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock valued at $152,694,000 after purchasing an additional 780,200 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 25,000 shares of MongoDB stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $320.15, for a total transaction of $8,003,750.00. Following the completion of the sale, the director owned 1,079,316 shares in the company, valued at $345,543,017.40. This trade represents a 2.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $327.93, for a total transaction of $384,989.82. Following the sale, the director owned 24,308 shares of the company's stock, valued at $7,971,322.44. The trade was a 4.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,910 shares of company stock worth $32,634,392. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of MongoDB from $325.00 to $370.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Piper Sandler lifted their target price on shares of MongoDB from $345.00 to $400.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Wedbush boosted their price objective on shares of MongoDB from $300.00 to $400.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Citigroup reaffirmed an "outperform" rating on shares of MongoDB in a report on Friday, September 19th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $350.00 price target on shares of MongoDB in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $336.83.

MongoDB Stock Down 0.4%

MDB stock opened at $317.00 on Tuesday. The company has a fifty day simple moving average of $270.12 and a two-hundred day simple moving average of $217.34. The firm has a market capitalization of $25.79 billion, a P/E ratio of -323.47 and a beta of 1.49. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00.

About MongoDB

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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