MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of some unusual options trading activity on Wednesday. Traders bought 36,130 call options on the company. This represents an increase of approximately 2,077% compared to the average volume of 1,660 call options.

MongoDB Stock Down 1.3 %

Shares of NASDAQ:MDB opened at $254.38 on Thursday. The company has a 50 day moving average price of $261.60 and a two-hundred day moving average price of $292.07. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The company has a market capitalization of $18.66 billion, a PE ratio of -90.53 and a beta of 1.15. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.63) EPS. Analysts forecast that MongoDB will post -2.44 earnings per share for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the completion of the transaction, the director now owns 1,140,006 shares of the company’s stock, valued at $263,341,386. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the transaction, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total value of $462,000.00. Following the transaction, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $3,168,810 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several institutional investors have recently modified their holdings of the business. Centaurus Financial Inc. increased its position in shares of MongoDB by 6.5% during the second quarter. Centaurus Financial Inc. now owns 2,456 shares of the company’s stock worth $614,000 after acquiring an additional 149 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in MongoDB by 25.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,400 shares of the company’s stock worth $350,000 after purchasing an additional 285 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of MongoDB in the 2nd quarter valued at about $1,860,000. Sycomore Asset Management lifted its holdings in shares of MongoDB by 86.4% in the second quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after purchasing an additional 24,827 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of MongoDB by 15.9% during the second quarter. Truist Financial Corp now owns 40,184 shares of the company’s stock worth $10,044,000 after buying an additional 5,509 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDB. DA Davidson upped their price objective on shares of MongoDB from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley upped their price target on shares of MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Mizuho increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Piper Sandler raised their target price on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Stifel Nicolaus boosted their price target on MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $337.56.

MongoDB Company 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.