MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock 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.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the sale, the director now directly owns 1,140,006 shares of the company's stock, valued at approximately $263,341,386. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the company's 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 sale, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $290.40, for a total value of $290,400.00. Following the completion of the sale, the director now directly owns 1,138,006 shares in the company, valued at approximately $330,476,942.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,000 shares of company stock valued at $3,168,810. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of the business. Centaurus Financial Inc. boosted its position in shares of MongoDB by 6.5% during the 2nd quarter. Centaurus Financial Inc. now owns 2,456 shares of the company's stock worth $614,000 after purchasing an additional 149 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in MongoDB by 25.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,400 shares of the company's stock worth $350,000 after buying an additional 285 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in MongoDB during the second quarter worth about $1,860,000. Sycomore Asset Management increased its holdings in MongoDB by 86.4% in the second quarter. Sycomore Asset Management now owns 53,568 shares of the company's stock valued at $12,884,000 after buying an additional 24,827 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of MongoDB by 15.9% during the 2nd quarter. Truist Financial Corp now owns 40,184 shares of the company's stock valued at $10,044,000 after acquiring an additional 5,509 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Performance

NASDAQ:MDB traded down $1.38 during midday trading on Thursday, reaching $253.00. The stock had a trading volume of 842,321 shares, compared to its average volume of 1,460,562. The stock has a market cap of $18.56 billion, a P/E ratio of -90.04 and a beta of 1.15. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The firm has a fifty day simple moving average of $261.79 and a two-hundred day simple moving average of $291.81.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its 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. 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 business's quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. On average, equities analysts expect that MongoDB will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of recent analyst reports. Mizuho increased their price objective on MongoDB from $250.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, August 30th. Oppenheimer raised their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. Scotiabank boosted their price objective on shares of MongoDB from $250.00 to $295.00 and gave the stock a "sector perform" rating in a research report on Friday, August 30th. DA Davidson increased their target price on shares of MongoDB from $265.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Finally, Piper Sandler boosted their price target on shares of MongoDB from $300.00 to $335.00 and gave the company an "overweight" rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, MongoDB has an average rating of "Moderate Buy" and an average price target 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.