Union Bancaire Privee UBP SA Buys 23,986 Shares of MongoDB, Inc. $MDB

Key Points

• Union Bancaire Privee UBP SA increased its stake in by 119.8%, acquiring an additional 23,986 shares during the second quarter, bringing its total ownership to approximately 0.05% of the company valued at $9.24 million.
• Wall Street analysts are optimistic about MongoDB, with several upgrades in ratings and price targets; the stock currently holds a consensus rating of "Moderate Buy" and a price target of $336.83.
• Insider trading activity saw CEO Dev Ittycheria sell 33,320 shares at an average price of $301.29, representing a 14.09% decrease in his ownership stake.

Union Bancaire Privee UBP SA boosted its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 119.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,004 shares of the company's stock after purchasing an additional 23,986 shares during the quarter. Union Bancaire Privee UBP SA owned approximately 0.05% of MongoDB worth $9,240,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Cloud Capital Management LLC purchased a new stake in MongoDB during the 1st quarter valued at $25,000. Hollencrest Capital Management bought a new position in shares of MongoDB during the 1st quarter worth $26,000. Cullen Frost Bankers Inc. grew its position in shares of MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after buying an additional 120 shares in the last quarter. State of Wyoming bought a new stake in MongoDB during the first quarter valued at about $62,000. Finally, Brooklyn Investment Group boosted its position in MongoDB by 247.9% during the first quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after purchasing an additional 290 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Zacks Research upgraded MongoDB to a "hold" rating in a research note on Friday, August 8th. Citigroup reaffirmed an "outperform" rating on shares of MongoDB in a research note on Friday, September 19th. BMO Capital Markets lifted their price target on MongoDB from $315.00 to $365.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. JMP Securities boosted their price objective on MongoDB from $345.00 to $375.00 and gave the stock a "market outperform" rating in a research note on Friday, September 19th. Finally, Needham & Company LLC boosted their price objective on MongoDB from $325.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $336.83.

MongoDB Trading Down 0.4%

Shares of MDB stock opened at $317.00 on Tuesday. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The company has a market cap of $25.79 billion, a price-to-earnings ratio of -323.47 and a beta of 1.49. The stock has a 50 day simple moving average of $270.12 and a 200-day simple moving average of $217.34.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 33,320 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the completion of the transaction, the chief executive officer directly owned 203,237 shares of the company's stock, valued at $61,233,275.73. This trade represents a 14.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $327.93, for a total value of $384,989.82. Following the completion of the transaction, the director directly owned 24,308 shares of the company's stock, valued at $7,971,322.44. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,910 shares of company stock valued at $32,634,392. Company insiders own 3.10% of the company's stock.

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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