MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 36,130 call options on the company. This is an increase of approximately 2,077% compared to the typical volume of 1,660 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDB. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up previously from $320.00) on shares of MongoDB in a report on Tuesday. Scotiabank lifted their price objective on shares of MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Loop Capital increased their target price on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Oppenheimer lifted their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Needham & Company LLC increased their price objective on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $372.88.

Insider Transactions at MongoDB

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock valued at $7,611,849 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

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

MongoDB Price Performance

Shares of MDB opened at $297.20 on Thursday. 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 company’s fifty day moving average price is $292.42 and its 200-day moving average price is $268.98. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The firm has a market capitalization of $21.95 billion, a PE ratio of -98.41 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities research analysts predict that MongoDB will post -2.37 EPS for the current year.

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.