MongoDB Target of Unusually High 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 stock. This is an increase of 2,077% compared to the typical daily volume of 1,660 call options.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $231.00, for a total value of $462,000.00. Following the transaction, the director now directly owns 1,140,006 shares of the company’s stock, valued at $263,341,386. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now directly owns 1,140,006 shares of the company’s stock, valued at approximately $263,341,386. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $252.23, for a total value of $1,261,150.00. Following the transaction, the chief financial officer now directly owns 81,942 shares in the company, valued at $20,668,230.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,000 shares of company stock valued at $3,168,810. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in MongoDB by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock valued at $2,478,475,000 after buying an additional 68,348 shares during the period. Jennison Associates LLC raised its holdings 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 buying an additional 551,567 shares during the period. Swedbank AB raised its holdings in MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the period. Champlain Investment Partners LLC raised its holdings in MongoDB by 22.4% during the 1st quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock valued at $197,497,000 after buying an additional 100,725 shares during the period. Finally, First Trust Advisors LP grew its position in MongoDB by 59.3% in the 4th quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock valued at $224,480,000 after acquiring an additional 204,284 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

NASDAQ:MDB opened at $254.38 on Thursday. The stock’s fifty day moving average is $261.60 and its 200 day moving average is $292.07. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The firm has a market capitalization of $18.66 billion, a PE ratio of -90.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last released its quarterly 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 for the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the prior year, the firm posted ($0.63) EPS. MongoDB’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts anticipate that MongoDB will post -2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MDB shares. Scotiabank lifted their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” 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. DA Davidson upped their price target on MongoDB from $265.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Mizuho upped their price target on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus upped their price target on MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $337.56.

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.