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Bourgeon Capital Management LLC purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,060 shares of the company’s stock, valued at approximately $7,027,000. MongoDB makes up about 1.5% of Bourgeon Capital Management LLC’s portfolio, making the stock its 29th biggest holding.
A number of other hedge funds have also recently made changes to their positions in MDB. Strategic Investment Solutions Inc. IL bought a new position in MongoDB during the 4th quarter worth approximately $29,000. NCP Inc. purchased a new stake in shares of MongoDB during the fourth quarter valued at approximately $35,000. Coppell Advisory Solutions LLC grew its holdings in shares of MongoDB by 364.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after purchasing an additional 182 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of MongoDB by 56.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock worth $87,000 after buying an additional 134 shares during the period. Finally, Manchester Capital Management LLC raised its holdings in MongoDB by 57.4% during the 4th quarter. Manchester Capital Management LLC now owns 384 shares of the company’s stock valued at $89,000 after buying an additional 140 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.
Insider Activity at MongoDB
In related news, insider Cedric Pech sold 1,690 shares of the firm’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 value of $292,809.40. Following the sale, the insider now owns 57,634 shares in the company, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total value of $205,260.75. Following the transaction, the director now directly owns 19,333 shares in the company, valued at $3,377,281.77. The trade was a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,203 shares of company stock valued at $3,848,569. 3.60% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have issued reports on MDB. Barclays cut their price target on shares of MongoDB from $280.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Wells Fargo & Company cut MongoDB from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Cantor Fitzgerald initiated coverage on MongoDB in a research report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price target for the company. Canaccord Genuity Group dropped their price objective on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $286.88.
Check Out Our Latest Report on MDB
MongoDB Price Performance
Shares of NASDAQ:MDB opened at $193.00 on Tuesday. The business has a fifty day moving average price of $174.12 and a 200-day moving average price of $231.29. The company has a market capitalization of $15.67 billion, a PE ratio of -70.44 and a beta of 1.49. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the prior year, the business posted $0.86 earnings per share. On average, sell-side analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.
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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Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB – Free Report).
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