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

MongoDB, Inc. (NASDAQ:MDBGet Free Report) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 36,130 call options on the company. This is an increase of 2,077% compared to the typical daily volume of 1,660 call options.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MDB shares. Scotiabank decreased their price target on shares of MongoDB from $385.00 to $250.00 and set a “sector perform” rating for the company in a research note on Monday, June 3rd. Piper Sandler decreased their target price on shares of MongoDB from $480.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Morgan Stanley dropped their price target on shares of MongoDB from $455.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. JMP Securities cut their price target on MongoDB from $440.00 to $380.00 and set a “market outperform” rating for the company in a research note on Friday, May 31st. Finally, Barclays lowered their price objective on MongoDB from $458.00 to $290.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $361.30.

Check Out Our Latest Report on MDB

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 4,000 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $1,061,160.00. Following the completion of the sale, the director now owns 1,142,006 shares of the company’s stock, valued at $302,962,771.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the sale, the director now owns 1,148,784 shares in the company, valued at approximately $430,736,560.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 4,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $1,061,160.00. Following the transaction, the director now owns 1,142,006 shares in the company, valued at $302,962,771.74. The disclosure for this sale can be found here. Insiders have sold 30,179 shares of company stock valued at $8,274,689 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of MongoDB by 1.0% in the first quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock worth $2,478,475,000 after buying an additional 68,348 shares during the period. Jennison Associates LLC increased its position in shares of 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 acquiring an additional 551,567 shares during the period. Norges Bank bought a new position in shares of MongoDB during the fourth quarter valued at about $326,237,000. Champlain Investment Partners LLC boosted its holdings in shares of MongoDB by 22.4% during the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock worth $197,497,000 after purchasing an additional 100,725 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of MongoDB by 59.3% in the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after purchasing an additional 204,284 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

MDB stock opened at $246.18 on Thursday. 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 firm has a market cap of $18.06 billion, a P/E ratio of -87.61 and a beta of 1.13. The firm’s fifty day moving average is $287.41 and its 200 day moving average is $357.76. MongoDB has a 52 week low of $214.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDBGet Free Report) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting 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 analysts’ expectations of $438.44 million. Research analysts predict that MongoDB will post -2.67 earnings per share for the current year.

About MongoDB

(Get Free Report)

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.

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