MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company boosted their target price on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Piper Sandler lifted their target price on shares of MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Scotiabank upped their price target on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC raised their price objective on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $334.25.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $300.89 on Thursday. The company’s fifty day moving average is $277.90 and its 200 day moving average is $275.28. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The stock has a market cap of $22.23 billion, a PE ratio of -99.63 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the prior year, the business posted ($0.63) EPS. MongoDB’s quarterly revenue was up 12.8% compared to the same quarter last year. Research analysts anticipate that MongoDB will post -2.39 earnings per share for the current year.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,222 shares in the company, valued at $4,589,041.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the sale, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at $4,589,041.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the business’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 completion of the transaction, the director now directly owns 1,135,006 shares in the company, valued at $330,048,394.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,281 shares of company stock valued at $6,657,121. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP bought a new position in shares of MongoDB during the third quarter valued at about $1,045,000. Sanctuary Advisors LLC bought a new position in MongoDB during the 2nd quarter valued at approximately $1,860,000. Sycomore Asset Management lifted its stake in MongoDB by 86.4% in the second quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock worth $12,884,000 after acquiring an additional 24,827 shares during the period. Cetera Investment Advisers increased 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 purchasing an additional 8,330 shares during the period. Finally, SG Americas Securities LLC raised its holdings in MongoDB by 179.7% in the 1st quarter. SG Americas Securities LLC now owns 7,142 shares of the company’s stock worth $2,561,000 after purchasing an additional 4,589 shares in the last quarter. Hedge funds and other institutional investors 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.