MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the recipient of some unusual options trading on Wednesday. Traders bought 36,130 call options on the stock. This is an increase of approximately 2,077% compared to the typical daily volume of 1,660 call options.

MongoDB Trading Down 2.3 %

Shares of MongoDB stock opened at $280.11 on Thursday. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The business’s fifty day moving average is $257.85 and its two-hundred day moving average is $299.90. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The firm has a market cap of $20.55 billion, a PE ratio of -99.68 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last posted 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. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same quarter in the prior year, the company posted ($0.63) EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that MongoDB will post -2.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MDB shares. Mizuho boosted their price target on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Piper Sandler upped their price target on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Wells Fargo & Company lifted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Monness Crespi & Hardt upgraded shares of MongoDB to a “hold” rating in a research report on Tuesday, May 28th. Finally, Bank of America raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.56.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the sale, the director now owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total value of $872,370.00. Following the transaction, the director now directly owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Dennis Mcmahon sold 10,000 shares of MongoDB stock in a transaction on Monday, June 24th. The stock was sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the sale, the director now owns 20,020 shares in the company, valued at $4,564,560. The disclosure for this sale can be found here. Insiders have sold 32,005 shares of company stock valued at $8,082,746 over the last quarter. 3.60% of the stock is owned by insiders.

Institutional Trading of MongoDB

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. boosted its position 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 during the period. Sanctuary Advisors LLC purchased a new stake in shares of MongoDB in the second quarter worth about $1,860,000. Sycomore Asset Management grew its stake 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 buying an additional 24,827 shares in the last quarter. Truist Financial Corp lifted its position in MongoDB by 15.9% during the 2nd quarter. Truist Financial Corp now owns 40,184 shares of the company’s stock worth $10,044,000 after acquiring an additional 5,509 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in MongoDB by 12.0% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 1,242 shares of the company’s stock worth $310,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds own 89.29% 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.