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

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

Analyst Upgrades and Downgrades

MDB has been the subject of several recent research reports. Oppenheimer increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their target price on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Needham & Company LLC raised their price objective on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Truist Financial reissued a “buy” rating and set a $400.00 target price (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Finally, Mizuho lifted their price target on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $367.14.

MongoDB Trading Up 1.1 %

MDB stock opened at $248.68 on Thursday. The stock has a market cap of $18.52 billion, a PE ratio of -90.76 and a beta of 1.25. The stock has a 50-day moving average price of $283.52 and a two-hundred day moving average price of $269.30. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. On average, analysts forecast that MongoDB will post -1.86 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 1,385 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $287.82, for a total transaction of $398,630.70. Following the completion of the sale, the director now directly owns 89,063 shares in the company, valued at approximately $25,634,112.66. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,161 shares of company stock valued at $8,427,806. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Geode Capital Management LLC lifted its stake in MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after purchasing an additional 7,526 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of MongoDB by 22.6% during the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after buying an additional 66,730 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.