MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading activity on Wednesday. Investors purchased 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MDB. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 target price on shares of MongoDB in a research report on Friday, August 30th. Wells Fargo & Company raised their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Morgan Stanley raised their price target on shares of MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. UBS Group raised their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, Stifel Nicolaus raised their price target on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $337.96.

MongoDB Trading Up 3.1 %

Shares of MDB stock opened at $283.70 on Thursday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The firm’s fifty day simple moving average is $273.31 and its 200 day simple moving average is $280.29. The firm has a market capitalization of $20.81 billion, a P/E ratio of -100.96 and a beta of 1.15. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the previous year, the firm posted ($0.63) earnings per share. MongoDB’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts predict that MongoDB will post -2.39 EPS for the current year.

Insider Transactions at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of MongoDB 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 transaction, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at $4,589,041.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CRO Cedric Pech sold 302 shares of MongoDB stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the transaction, the executive now directly owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 16,222 shares in the company, valued at approximately $4,589,041.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,281 shares of company stock valued at $6,310,411 in the last quarter. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new stake in MongoDB in the 3rd quarter valued at $861,000. Stephens Investment Management Group LLC increased its holdings in MongoDB by 22.8% in the 3rd quarter. Stephens Investment Management Group LLC now owns 30,664 shares of the company’s stock valued at $8,290,000 after buying an additional 5,688 shares during the period. US Bancorp DE increased its holdings in MongoDB by 9.1% in the 3rd quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $1,046,000 after buying an additional 324 shares during the period. First Trust Direct Indexing L.P. increased its holdings in MongoDB by 16.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the company’s stock valued at $510,000 after buying an additional 261 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of MongoDB by 112.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 937 shares of the company’s stock valued at $253,000 after purchasing an additional 496 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

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.