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

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading on Wednesday. Investors bought 36,130 call options on the stock. Thisisanincreaseofapproximately2,077% compared to the typical daily volume of 1,660 call options.

MongoDB Stock Down 1.7%

MDB stock opened at $312.88 on Thursday. The company has a market cap of $25.57 billion, a price-to-earnings ratio of -319.27 and a beta of 1.49. The business has a fifty day simple moving average of $229.48 and a 200-day simple moving average of $207.78. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. As a group, analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the sale, the director owned 1,104,316 shares of the company’s stock, valued at $270,557,420. The trade was a 0.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the sale, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,731 shares of company stock valued at $15,656,469 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

A number of institutional investors have recently added to or reduced their stakes in MDB. Lido Advisors LLC boosted its position in MongoDB by 74.8% during the 4th quarter. Lido Advisors LLC now owns 1,208 shares of the company’s stock worth $281,000 after purchasing an additional 517 shares during the period. AQR Capital Management LLC boosted its position in MongoDB by 92.1% in the 4th quarter. AQR Capital Management LLC now owns 37,126 shares of the company’s stock valued at $8,643,000 after buying an additional 17,802 shares during the last quarter. Cetera Investment Advisers boosted its position in MongoDB by 44.1% in the 4th quarter. Cetera Investment Advisers now owns 14,316 shares of the company’s stock valued at $3,333,000 after buying an additional 4,384 shares during the last quarter. Crestline Management LP purchased a new position in MongoDB in the 4th quarter valued at about $7,728,000. Finally, Contour Asset Management LLC boosted its position in MongoDB by 11.4% in the 4th quarter. Contour Asset Management LLC now owns 205,694 shares of the company’s stock valued at $47,888,000 after buying an additional 20,968 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of recent research reports. Cantor Fitzgerald upped their target price on MongoDB from $271.00 to $312.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. Wolfe Research upped their target price on MongoDB from $280.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Needham & Company LLC upped their target price on MongoDB from $270.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. William Blair reiterated an “outperform” rating on shares of MongoDB in a report on Thursday, June 26th. Finally, Sanford C. Bernstein boosted their price target on MongoDB from $319.00 to $338.00 and gave the company an “outperform” rating in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $310.86.

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.