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

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

MongoDB Stock Performance

NASDAQ MDB opened at $324.60 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The business has a 50 day simple moving average of $281.84 and a two-hundred day simple moving average of $271.65. The stock has a market capitalization of $23.98 billion, a PE ratio of -107.48 and a beta of 1.15.

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

Analyst Ratings Changes

MDB has been the topic of several research reports. 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. Needham & Company LLC boosted their target price on shares of MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Oppenheimer upped their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Truist Financial lifted their price target on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company upped their price objective on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.29.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 16,222 shares in the company, valued at approximately $4,589,041.58. The trade was a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the transaction, the executive now owns 33,440 shares in the company, valued at approximately $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,600 shares of company stock valued at $7,732,589 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC lifted its position in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the last quarter. Swedbank AB raised its stake in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after acquiring an additional 400,705 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of MongoDB during the 2nd quarter worth about $52,131,000. Finally, Avala Global LP bought a new position in MongoDB during the 3rd quarter valued at about $47,960,000. 89.29% of the stock is owned by hedge funds and other 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.