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

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading on Wednesday. Stock traders acquired 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 Analyst Weigh In

MDB has been the topic of several recent research reports. Guggenheim raised MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, June 3rd. Citigroup dropped their price objective on MongoDB from $480.00 to $350.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Truist Financial dropped their price objective on MongoDB from $475.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Mizuho dropped their price objective on MongoDB from $380.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Finally, Loop Capital dropped their price objective on MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.59.

MongoDB Stock Performance

Shares of MDB opened at $248.78 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93. The stock has a 50 day moving average price of $285.12 and a two-hundred day moving average price of $357.00. The firm has a market capitalization of $18.25 billion, a P/E ratio of -88.53 and a beta of 1.13. MongoDB has a 52 week low of $214.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The firm had revenue of $450.56 million for the quarter, compared to the consensus estimate of $438.44 million. Equities analysts forecast that MongoDB will post -2.67 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director John Dennis Mcmahon sold 10,000 shares of the firm’s 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 of the company’s stock, valued at approximately $4,564,560. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MongoDB news, Director John Dennis Mcmahon sold 10,000 shares of MongoDB stock in a transaction dated 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 transaction, the director now directly owns 20,020 shares of the company’s stock, valued at approximately $4,564,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares in the company, valued at $4,568,824.38. The disclosure for this sale can be found here. Insiders have sold a total of 35,179 shares of company stock valued at $9,535,839 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. Norges Bank purchased a new position in MongoDB in the fourth quarter valued at approximately $326,237,000. Jennison Associates LLC lifted its stake in MongoDB by 14.3% in the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after purchasing an additional 551,567 shares during the last quarter. Axiom Investors LLC DE purchased a new position in MongoDB in the fourth quarter valued at approximately $153,990,000. Swedbank AB purchased a new position in MongoDB in the first quarter valued at approximately $91,915,000. Finally, Clearbridge Investments LLC lifted its stake in MongoDB by 109.0% in the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after purchasing an additional 232,101 shares during the last quarter. Hedge funds and other 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.