MongoDB Target of Unusually Large Options Trading (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading activity on Wednesday. Traders purchased 36,130 call options on the stock. This represents an increase of 2,077% compared to the typical daily volume of 1,660 call options.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MDB. Scotiabank raised their price objective on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Oppenheimer increased their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Citigroup increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Sanford C. Bernstein increased their target price on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company increased their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $337.96.

Insiders Place Their Bets

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at $23,313,925.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the sale, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the sale, the chief financial officer now owns 80,307 shares in the company, valued at approximately $23,313,925.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,281 shares of company stock worth $6,310,411 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently modified their holdings of MDB. Vanguard Group Inc. lifted its position in MongoDB by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock valued at $2,797,521,000 after acquiring an additional 194,148 shares during the period. Sanctuary Advisors LLC purchased a new position in MongoDB during the 2nd quarter valued at about $1,860,000. Sycomore Asset Management lifted its position in MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after acquiring an additional 24,827 shares during the period. Cetera Investment Advisers lifted its position in MongoDB by 327.6% during the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock valued at $3,899,000 after acquiring an additional 8,330 shares during the period. Finally, Jennison Associates LLC lifted its position in MongoDB by 14.3% during the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after acquiring an additional 551,567 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Trading Down 2.2 %

NASDAQ:MDB opened at $278.39 on Thursday. The company has a 50-day moving average price of $268.79 and a 200-day moving average price of $286.09. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of -99.07 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same period last year, the company posted ($0.63) EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts predict that MongoDB will post -2.44 EPS for the current 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.