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

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

MongoDB Price Performance

NASDAQ:MDB opened at $324.60 on Thursday. The firm has a market capitalization of $23.98 billion, a price-to-earnings ratio of -107.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The business has a 50 day simple moving average of $281.84 and a 200-day simple moving average of $271.65. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MDB shares. Morgan Stanley raised their target price on MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Bank of America raised their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Scotiabank boosted their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Wells Fargo & Company increased their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Oppenheimer upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $340.29.

Insider Activity

In other news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $349.17, for a total value of $698,340.00. Following the transaction, the director now owns 1,124,006 shares in the company, valued at $392,469,175.02. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at $4,589,041.58. This trade represents a 5.81 % 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 worth $7,732,589 over the last 90 days. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently made changes to their positions in MDB. Tidal Investments LLC raised its holdings in MongoDB by 76.8% in the third quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock worth $2,125,000 after purchasing an additional 3,415 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of MongoDB during the 3rd quarter worth approximately $44,000. Virtu Financial LLC raised its stake in shares of MongoDB by 351.2% during the 3rd quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock worth $2,708,000 after acquiring an additional 7,796 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in MongoDB during the third quarter valued at approximately $5,840,000. Finally, Toronto Dominion Bank boosted its stake in MongoDB by 21.9% in the third quarter. Toronto Dominion Bank now owns 9,462 shares of the company’s stock valued at $2,558,000 after acquiring an additional 1,699 shares in the last quarter. 89.29% of the stock is currently 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.