MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading activity on Wednesday. Traders acquired 23,831 put options on the company. This is an increase of 2,157% compared to the average daily volume of 1,056 put options.

Analyst Upgrades and Downgrades

MDB has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Wells Fargo & Company upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Scotiabank increased their target price on shares of MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a report on Friday, August 30th. DA Davidson increased their target price on shares of MongoDB from $265.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, UBS Group increased their target price on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a 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 issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $337.56.

MongoDB Price Performance

NASDAQ:MDB opened at $254.38 on Thursday. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The firm has a market cap of $18.66 billion, a price-to-earnings ratio of -90.53 and a beta of 1.15. The firm’s 50-day simple moving average is $261.60 and its 200 day simple moving average is $292.07. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The business had revenue of $478.11 million for 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 earned ($0.63) earnings per share. As a group, sell-side analysts predict that MongoDB will post -2.44 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at $4,589,041.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $252.23, for a total value of $1,261,150.00. Following the completion of the sale, the chief financial officer now owns 81,942 shares of the company’s stock, valued at $20,668,230.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $3,168,810 over the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in shares of MongoDB in the 4th quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of MongoDB in the 2nd quarter valued at approximately $25,000. J.Safra Asset Management Corp boosted its stake in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 116 shares in the last quarter. Quarry LP boosted its stake in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of MongoDB in the 2nd quarter valued at approximately $35,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.