Month: September 2023

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On September 8, 2023, HighTower Advisors LLC announced a reduction in its stake in MongoDB, Inc. (NASDAQ:MDB) during the first quarter of the year. According to the firm’s recent 13F filing with the Securities and Exchange Commission, this institutional investor sold 1,129 shares of MongoDB, resulting in a 7.2% decrease in their ownership. As a result of this transaction, HighTower Advisors LLC now holds 14,560 shares of MongoDB stock.

Based on the most recent filing with the Securities and Exchange Commission, HighTower Advisors LLC’s holdings in MongoDB have an estimated value of $3,342,000. This information highlights their ongoing investment activities and provides market participants with insights into HighTower Advisors LLC’s portfolio management strategies.

MongoDB, Inc., being a leading provider of a general-purpose database platform globally, offers various solutions to customers. One such solution is MongoDB Atlas—an advanced multi-cloud database-as-a-service offering. With this hosted service, companies can benefit from the simplicity and scalability provided by MongoDB for storing and managing their data across multiple cloud platforms.

Another product offered by MongoDB is MongoDB Enterprise Advanced—a commercial-grade database server designed for enterprise customers. Companies can deploy this solution either in the cloud or on-premise based on their specific requirements while also having the flexibility to adopt a hybrid approach if necessary.

In addition to these paid offerings, MongoDB provides Community Server—a cost-free version of its database software that developers can freely download. Community Server includes all the essential features required to initiate projects with MongoDB and serves as an excellent starting point for developers looking to leverage its capabilities.

HighTower Advisors LLC’s decision to reduce its stake in MongoDB may have been influenced by various factors. Institutional investors often adjust their portfolios based on changing market conditions or internal investment strategies. While it is challenging to ascertain precise motives behind this reduction without further details from HighTower Advisors LLC themselves, changes in ownership stakes can be an indication of evolving investment priorities or risk management strategies.

This announcement regarding HighTower Advisors LLC’s decreased stake in MongoDB holds significance for both investors in the database company and the broader market. It offers insight into the confidence and investment decisions made by a notable institutional investor. Furthermore, it sheds light on the changing dynamics of investment in technology companies like MongoDB, which continue to innovate and provide valuable solutions to businesses worldwide.

As always, before making any investment decisions, it is crucial for investors to conduct their own thorough research, take into account additional factors impacting the market and seek professional financial advice when necessary.

Investment Activity and Analyst Ratings Boost MongoDB’s Market Position

MongoDB, Inc., a global provider of general-purpose database solutions, has recently witnessed an increase in investment activity. Several hedge funds and institutional investors have either added or reduced their stakes in the company. Noteworthy investments include Bessemer Group Inc.’s acquisition of a new stake worth approximately $29,000 in the fourth quarter and BI Asset Management Fondsmaeglerselskab A S’s purchase of shares valued at around $30,000 during the same period.

Moreover, Global Retirement Partners LLC significantly raised its stake in MongoDB by 346.7% during the first quarter. The company now owns 134 shares of MongoDB stock with a value of $30,000 after purchasing an additional 104 shares. Manchester Capital Management LLC and Clearstead Advisors LLC also acquired new positions in MongoDB during the first quarter with investments amounting to approximately $36,000 each. In total, hedge funds and other institutional investors own a significant 88.89% stake in the company’s stock.

In addition to increased investment activity, research analyst reports on MongoDB have been positive as well. Needham & Company LLC raised their price target from $430 to $445 and bestowed a “buy” rating upon the company on September 1st this year. VNET Group also maintained its rating for MongoDB shares while Truist Financial raised their price target from $420 to $430 and Robert W. Baird from $390 to $430.

Argus further boosted their price objective for MongoDB shares from $435 to $484 and assigned it a “buy” rating earlier this year. Bloomberg.com states that according to analyst ratings, these positive reviews contribute to an average rating of “Moderate Buy” for MongoDB stock—a noteworthy achievement indicating market confidence—with a consensus price target of approximately $418.08.

As for its core operations, MongoDB primarily operates through three offerings: MongoDB Atlas—a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced—a commercial database server catering to enterprise customers for usage in the cloud, on-premise, or hybrid environments; and Community Server, a free version of its database designed to equip developers with the essential functionality required to commence their MongoDB development.

On September 8th, shares of MongoDB opened at $377.54, representing a market capitalization of $26.65 billion. The stock has a price-to-earnings ratio of -109.12 and a beta of 1.11. Additionally, it has maintained a fifty-day moving average price of $389.53 and a 200-day moving average price of $308.62. Notably, MongoDB achieved a 12-month low of $135.15 and reached a peak of $439.00 during that same time frame.

In recent news regarding the company’s internal affairs, Chief Accounting Officer Thomas Bull sold 516 shares at an average price of $406.78 on July 3rd this year, resulting in a total transaction value of $209,898.48. Following this sale, Bull now holds approximately 17,190 shares in the company valued at around $6,992,548.20. Another significant transaction involved Director Dwight A Merriman selling 1,000 shares at an average price of $420 on July 18th for a total transaction value of $420,000.

It is worth noting that insiders sold a substantial number—83,551 shares—of MongoDB stock with an estimated worth of $33,875,952 over the last three months alone. As such transactions comprise around 4.80% of the total outstanding stock owned by insiders.

With growing investment activity and positive analyst ratings behind it—and continuing success as it expands its offerings—MongoDB appears to be well-positioned in the market within its industry sector.

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In today’s digital era, operational visibility is a prerequisite for businesses across sectors such as manufacturing, transportation and retail. However, managing this massive influx of rapid, real-time data can be challenging — especially for organizations that don’t have the infrastructure in place.

This data generally takes the form of events such as clicks, telemetry, logs and metrics, often collected as time series or machine data. In contrast to transactional data collected via batch ingestion, this data is collected via real-time streaming.

The advent of streaming data has also revolutionized many industries and job functions. For instance, Site Reliability Engineers (SREs) can now gain unprecedented visibility into the root causes of issues, simplifying their efforts to ensure seamless backend operations and smoother user experiences.

Automation is also both easier to enact and capable of more precise actions. In areas where humans cannot respond fast enough, teams can create triggers to execute in response to specific events. This could take the form of an algorithm selling stock when its price rises above a certain threshold or a machine learning model automatically replenishing retail inventory when it falls below a specific level.

Analysts and executives are also empowered with more current (and more granular) data to better understand the effectiveness of product launches, market strategies and feature updates. They can make decisions more rapidly, enabling their organization to stay ahead of the competition.

Prerequisites

To leverage the full potential of real-time event data, teams need the best database available. While streaming data has been in existence for almost a decade, there are few databases today that are optimized for storing, querying or analyzing this kind of fast-moving data at scale.

The first requirement is a real-time pipeline. Traditionally, data was collected after the fact in batches: data comes in, is cleaned up and is organized in files before finally being ingested into a database. However, batch processing cannot keep up with the speed or dynamism of real-time data, so streaming data risks going stale and losing any time-sensitive insights it may have had.

The answer lies in solutions like Apache Kafka or Amazon Kinesis. Engineered for high throughput and minimal latency, these platforms manage millions of events per second without issues.

With streaming data, scale and concurrency are two key challenges. Streams can involve massive quantities — up to billions of events per hour and perhaps even trillions per week or month. At the same time, analytics applications must accommodate hundreds of users generating thousands of queries per second, especially in a crisis like an application outage.

In some situations, teams may also need to analyze historical and recent data side by side, especially for outlier and anomaly identification. Most databases don’t have this feature, and instead teams must switch between a transactional database and a cloud data warehouse — a cumbersome dance that risks delays when an organization can least afford it.

Today, the two most common types of databases are analytical (OLAP) and transactional (OLTP). Yet each has limitations — OLTP databases excel in high-performance access but falter in analytical ability and scaling, whereas OLAP databases provide powerful analytics but fail when it comes to speed or supporting many users at once.

Databases also must be future proof to avoid expensive migrations, which can be some of the hardest projects any team can face. Migrations often arise from some fundamental mismatch between data architectures and operational requirements (which often change, especially as business grow their customer bases). A team may have chosen a platform that isn’t as scalable as they need, or perhaps they now need to carry out rapid, real-time analytics on their streaming data but their current database doesn’t support these operations.

Solution

To address these challenges, a database needs to ingest, process and analyze massive volumes of real-time data, all while supporting many users and a high rate of queries per second.

Apache Druid is one platform that handle all of these needs. Built for speed, scale and streaming data, Druid can seamlessly ingest data from streams and prepare them for immediate querying — no more waiting on batch data or having to pre-aggregate data before the fact. Druid also enables a huge range of capabilities, from interactive visualizations and dashboards to real-time analytics.

Druid includes features designed specifically for the challenges of streaming event data. One capability is query on arrival. While many databases must ingest and persist events before they can be queried, Druid ingests each streaming event directly into memory on data nodes, where users can then immediately query the data. All of this data is subsequently processed and persisted into deep storage for added resilience.

Druid also guarantees consistency — critical in data streams where millions or billions of daily events risk duplication. Druid’s exactly-once ingestion removes the need for developers to create their own custom code to remove duplicate data.

Druid can also keep pace with the velocity and quantity of streaming data. Druid separates querying, data management and other functions into different nodes and automatically rebalances data as nodes scale up and down. This ensures reliability, removes the need for downtime in upgrades and maintenance, and enables confidence in working with large quantities of data.

Customer story: Confluent Cloud

Founded by the creators of Apache Kafka, Confluent offers fully managed, Kafka-based solutions. Confluent leverages Druid as the foundation for several vital services that provide operational visibility, including Confluent Health+ for alerts, Confluent Cloud Metrics API for external-facing metrics, and Confluent Stream Lineage for mapping data relationships and exploring event streams.

Before Druid, Confluent utilized a NoSQL database. However as their data grew, they found that their existing database could not scale, accommodate high-cardinality metrics and time series data, or maintain subsecond response times in the face of increased users and query volumes. Not only was Druid capable of fulfilling all these requirements but it also included a native Kafka integration, removing the need for extra workarounds.

Today, Confluent operates 100+ historical nodes to handle batch data and over 70 MiddleManager nodes for ingesting and querying real-time data, all deployed on Amazon Elastic Kubernetes Service (EKS) clusters. Each second, this environment ingests more than three million events and responds to 250+ queries. In addition, Confluent keeps seven days of data in their historical nodes for querying and retains data for up to two years in Amazon S3 storage.

Image credit: stori/depositphotos.com

William To is senior product evangelist at Imply.

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MongoDB, Inc. (NASDAQ:MDB) has received a “Moderate Buy” consensus rating from twenty-five research firms, according to Bloomberg.com. Among these analysts, one has given the stock a sell rating, three have assigned a hold rating, and twenty-one have issued a buy rating for the company. Over the past year, the average 12-month price objective for MDB among analysts who have covered the stock is $418.08.

As of its opening on September 8, 2023, shares of MDB were valued at $377.54. The company currently boasts a market capitalization of $26.65 billion and has a negative price-to-earnings ratio of -109.12. With a beta of 1.11, MDB’s stock is considered to be slightly more volatile than the overall market. In terms of financial health, the firm maintains a current ratio of 4.48 and a quick ratio of 4.19. Additionally, MongoDB’s debt-to-equity ratio stands at 1.29—a figure that suggests some degree of leverage.

In tracking its performance over time, MongoDB’s stock has shown stability with steady growth potential. The company’s fifty-day simple moving average stands at $389.53 while its two-hundred-day simple moving average is $308.62—both figures indicating consistent upward momentum in shareholder value. Despite this positive trend in recent months, it should be noted that MDB has experienced fluctuations within its 52-week range—from a low of $135.15 to a high of $439.

MongoDB specializes in providing general-purpose database platforms worldwide through their offerings such as MongoDB Atlas—a hosted multi-cloud database-as-a-service solution that caters to various user requirements across cloud environments; MongoDB Enterprise Advanced—a commercial-grade database server designed specifically for enterprise clients to operate in the cloud or on-premise or both; and Community Server—an accessible version freely available for download, boasting features that assist developers in getting started with MongoDB.

In conclusion, MongoDB, Inc. has garnered favorable ratings from multiple research firms, indicating a promising outlook for the company. With its user-friendly and functional database solutions, MDB continues to position itself as a leader in the industry. As always, potential investors should thoroughly assess their investment options and consider factors such as market conditions before making any decisions regarding this or any other stock.

Mixed Reviews and Insider Transactions Surround MongoDB Stock

MongoDB, Inc., a global provider of general purpose database platforms, has recently garnered attention from equities research analysts. Several analysts have commented on the company’s performance, resulting in varied price objectives and ratings for MongoDB’s stock.

Argus, an equity research firm, raised their price objective on MongoDB from $435.00 to $484.00 and assigned a “buy” rating to the stock. This endorsement indicates Argus’ belief in the company’s potential for growth and success.

On the other hand, Guggenheim increased their price objective for MongoDB from $220.00 to $250.00 but gave the stock a “sell” rating. This contrasting view suggests that Guggenheim has reservations about MongoDB’s future prospects and recommends investors to sell their shares.

Sanford C. Bernstein also raised their price objective on MongoDB from $424.00 to $471.00, implying a positive outlook on the company’s value.

Similarly, The Goldman Sachs Group upped its price objective on MongoDB from $420.00 to $440.00 in June, indicating optimism in the stock’s performance.

Furthermore, 58.com reiterated its “maintains” rating on shares of MongoDB in June as well.

In terms of recent insider transactions, CRO Cedric Pech sold 360 shares of MongoDB’s stock on July 3rd at an average price of $406.79 per share. This transaction resulted in a total transaction value of $146,444.40.

Director Hope F. Cochran also sold 2,174 shares of the company’s stock in mid-June for an average price of $373.19 per share, totaling $811,315.06.

Overall, insiders have sold a total of 83,551 shares of MongoDB valued at approximately $33,875,952 over the past three months alone.

Several institutional investors have actively participated in buying and selling shares of MongoDB as well. ST Germain D J Co. Inc. recently purchased a new position in the company during the second quarter, valued at around $45,000.

Additionally, Alamar Capital Management LLC increased its stake in MongoDB by 2.4% during the same period, now owning 9,056 shares worth $3,722,000.

Furthermore, Osaic Holdings Inc. raised its stake in the company by 47.9% during the second quarter, now owning 14,324 shares valued at $5,876,000.

Teachers Retirement System of The State of Kentucky also significantly increased its stake in MongoDB by 365.9%, reaching a total ownership of 7,142 shares with a value of $2,935,000.

Lastly, Coppell Advisory Solutions LLC acquired a new stake in MongoDB during the second quarter with an approximate value of $43,000.

In conclusion, MongoDB has received mixed reviews from equities research analysts regarding its stock performance and value. While some have expressed optimism about its potential growth and assigned “buy” ratings to the stock and raised price objectives accordingly, others remain skeptical and have given it a “sell” recommendation. Furthermore, notable insider transactions involving top executives selling their shares have been disclosed to the Securities and Exchange Commission (SEC). Institutional investors have also shown interest in buying and selling MongoDB’s stock recently. These developments indicate heightened activity among market participants with regards to MongoDB’s future prospects and potential investment opportunities.

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AWS Lambda is deprecating the go1.x runtime, announcing support for Go exclusively in the Amazon Linux 2 runtime. The announcement and the need to migrate by the end of the year to the custom provided.al2 runtime raised concerns in the Go community.

As for the Amazon Linux AMI end-of-life, the go1.x runtime will be deprecated on December 31st, and developers should migrate to the provided.al2 runtime by that date. Micah Walter, Yanko Bolanos, and Ramesh Mathikumar, senior solutions architects at AWS, explain the benefits:

First, it supports running Lambda functions on AWS Graviton2 processors, offering up to 34% better price-performance compared to functions running on x86_64 processors. Second, it offers a streamlined implementation with a smaller deployment package and faster function invoke path. Finally, this change aligns Go with other languages that also compile to native code such as Rust or C++.

In the “RIP AWS Go Lambda Runtime” article, Mark Wolfe, engineering lead at Stax, disagrees:

I think this is a bad thing for a couple of reasons: there is no automated migration path from existing Go Lambda functions to the new custom runtime (…). Second, this will remove Go1.x name from the AWS Lambda console, Go will now just be another custom runtime instead of a first-class supported language.

While for other languages like Node, Python, or Java, Lambda offers a native runtime, Go will now only be available using the provided.al2 runtime, which reduces the discoverability of Go as a serverless language on AWS.

Even before AWS removed native support for Go, there were developers arguing that switching to a custom runtime had many advantages, with support for Lambda extensions, a more recent Amazon Linux 2 execution environment, and the ability to unify the runtime and handler code. Wolfe comments:

While the custom runtime provides better performance and an updated operating system, the change will require effort for many Go developers on AWS Lambda. Some automated assistance and validation from AWS could help reduce friction and issues from this change.

In a popular Reddit thread, some Go developers highlight the lack of communication while others support the change. Aidan Steele, founding engineer at NightVision and AWS Serverless Hero, focuses instead on the benefits of flags:

I was already using the newer runtime, but I also learned from the blog post that AWS SAM can now build Go Lambda functions for the newer runtime – no more Makefiles required! I switched from BuildMethod: makefile to BuildMethod: go1.x and noticed that my Lambda packages were now twice the size. This means slower cold starts and slower deployments.

To mitigate the impact on developers, the announcement describes how to migrate functions from the go1.x runtime to the provided.al2 runtime and how to make configuration changes to build scripts or CI/CD configurations.

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Couchbase Inc. has emerged as a leading player in the technology industry, revolutionizing the way businesses handle their data. The company’s journey towards technological excellence has been marked by a rich history and a continuous evolution that has propelled it to the forefront of the industry.

Couchbase Inc. was founded in 2009 as a result of a merger between two prominent companies, CouchOne and Membase. The merger brought together the expertise of both companies in the field of NoSQL databases, creating a powerful force in the industry. The newly formed company set out to develop a database platform that would address the growing need for scalability, flexibility, and performance in the digital age.

From its inception, Couchbase Inc. recognized the importance of open-source technology and embraced it wholeheartedly. The company’s flagship product, Couchbase Server, was built on open-source foundations, allowing developers to leverage the power of the platform and contribute to its growth. This commitment to open-source principles has not only fostered a vibrant community of developers but has also enabled Couchbase Inc. to stay at the cutting edge of technological advancements.

Over the years, Couchbase Inc. has continuously evolved its product offerings to meet the changing needs of its customers. The company has expanded its portfolio to include Couchbase Mobile, a powerful solution for building offline-first, mobile-first applications. This move has allowed Couchbase Inc. to tap into the rapidly growing mobile market and provide developers with the tools they need to create innovative and engaging mobile experiences.

In addition to its product expansion, Couchbase Inc. has also made significant strides in terms of performance and scalability. The company’s database platform has been optimized to handle massive amounts of data, making it ideal for businesses operating in the era of big data. With its ability to scale horizontally across multiple nodes, Couchbase Server can effortlessly handle the demands of modern applications, ensuring that businesses can deliver a seamless user experience even under heavy loads.

Couchbase Inc.’s commitment to innovation has not gone unnoticed. The company has received numerous accolades and recognition from industry experts and analysts. In 2020, Couchbase Inc. was named a Leader in the Forrester Wave™: Big Data NoSQL report, solidifying its position as a key player in the market. This recognition is a testament to the company’s dedication to pushing the boundaries of what is possible in the world of data management.

Looking ahead, Couchbase Inc. shows no signs of slowing down. The company continues to invest in research and development, exploring new technologies and methodologies to further enhance its product offerings. With a strong focus on customer success and a commitment to delivering exceptional value, Couchbase Inc. is well-positioned to continue its journey towards technological excellence.

In conclusion, Couchbase Inc. has come a long way since its inception. Through a rich history and continuous evolution, the company has established itself as a leader in the technology industry. With its open-source foundations, commitment to innovation, and focus on customer success, Couchbase Inc. is poised to shape the future of data management and drive technological excellence in the years to come.

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1832 Asset Management L.P. reduced its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 977,500 shares of the company’s stock after selling 40,500 shares during the period. 1832 Asset Management L.P. owned 1.40% of MongoDB worth $227,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDB. SVB Wealth LLC purchased a new stake in MongoDB in the first quarter worth about $261,000. Wetherby Asset Management Inc. lifted its holdings in MongoDB by 14.1% in the first quarter. Wetherby Asset Management Inc. now owns 1,299 shares of the company’s stock worth $303,000 after buying an additional 161 shares during the period. Stifel Financial Corp lifted its position in MongoDB by 3.3% during the first quarter. Stifel Financial Corp now owns 64,245 shares of the company’s stock valued at $14,977,000 after buying an additional 2,029 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in MongoDB by 11.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 28,480 shares of the company’s stock valued at $6,639,000 after buying an additional 3,000 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of MongoDB by 26.8% during the first quarter. Great West Life Assurance Co. Can now owns 63,574 shares of the company’s stock valued at $14,839,000 after purchasing an additional 13,444 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Guggenheim lifted their target price on shares of MongoDB from $220.00 to $250.00 and gave the company a “sell” rating in a report on Friday, September 1st. Capital One Financial started coverage on shares of MongoDB in a report on Monday, June 26th. They issued an “equal weight” rating and a $396.00 price objective for the company. Piper Sandler boosted their target price on MongoDB from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 1st. 22nd Century Group reissued a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. Finally, Truist Financial raised their price target on MongoDB from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $418.08.

Read Our Latest Report on MongoDB

MongoDB Price Performance

NASDAQ MDB traded up $0.88 on Friday, reaching $378.42. The company had a trading volume of 451,284 shares, compared to its average volume of 1,696,444. The company has a debt-to-equity ratio of 1.29, a quick ratio of 4.19 and a current ratio of 4.48. The firm’s 50 day moving average price is $389.53 and its 200 day moving average price is $308.62. MongoDB, Inc. has a 12 month low of $135.15 and a 12 month high of $439.00.

Insider Buying and Selling at MongoDB

In other MongoDB news, CRO Cedric Pech sold 360 shares of MongoDB stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $406.79, for a total value of $146,444.40. Following the sale, the executive now owns 37,156 shares of the company’s stock, valued at approximately $15,114,689.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Dwight A. Merriman sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $389.50, for a total transaction of $2,337,000.00. Following the transaction, the director now owns 1,201,159 shares of the company’s stock, valued at approximately $467,851,430.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Cedric Pech sold 360 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $406.79, for a total value of $146,444.40. Following the transaction, the executive now directly owns 37,156 shares in the company, valued at approximately $15,114,689.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,551 shares of company stock worth $33,875,952. Insiders own 4.80% of the company’s stock.

MongoDB Profile

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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On September 8, 2023, there has been a notable surge in options activity surrounding MongoDB (NASDAQ:MDB). Our team at Benzinga’s options scanner has detected 10 uncommon options trades for MongoDB, showcasing an equal distribution of bullish and bearish sentiment at 50% each.

These extraordinary options trades consist of 4 puts, amounting to a substantial $505,892, and 6 calls, totaling $243,514. It appears that the whales, or large institutional investors, have set their sights on a price range of $320.0 to $650.0 for MongoDB over the past three months. This determination is based on careful consideration of the volume and open interest associated with these contracts.

Among the most significant options identified are the MDB PUT TRADE BULLISH 06/21/24 $650.00, which amounts to $215.8K with a ratio of 15 to 0, and the MDB PUT TRADE BULLISH 06/21/24 $340.00, valued at $143.2K with a ratio of 65 to 32.

MongoDB Incs Impressive Earnings and Revenue Growth Signals Potential for Future Success

On September 8, 2023, MDB stock, belonging to MongoDB Inc, showed a mixed performance. The stock opened at $378.00, slightly higher than the previous day’s closing price of $377.54. Throughout the day, the stock fluctuated within a range of $375.42 to $383.00. The trading volume was 40,327, which is significantly lower than the average volume of 1,755,519 over the past three months.

MDB’s market capitalization stands at $28.0 billion, indicating its significant size in the market. The company has shown impressive earnings growth, with a negative growth rate of -5.89% in the previous year, but a remarkable growth rate of +92.12% in the current year. Looking ahead, analysts project earnings growth of 8.00% over the next five years.

In terms of revenue growth, MDB has performed exceptionally well, with a growth rate of +46.95% in the last year. This indicates the company’s ability to generate increasing revenue and potentially expand its market share. However, it is essential to note that MDB’s price-to-earnings (P/E) ratio is not available (NM), which could be due to negative earnings or other factors.

The price-to-sales ratio for MDB is 11.45, suggesting that investors are willing to pay a premium for each dollar of sales generated by the company. Additionally, the price-to-book ratio is 37.12, indicating that the stock is trading at a significant premium compared to its book value.

Other technology services companies, such as HubSpot Inc and ANSYS Inc, experienced negative performance, with HUBS declining by 13.09% and ANSS falling by 4.13%. On the other hand, Take-Two Interactive, a packaged software company, saw a slight increase of 0.36% in its stock price.

MongoDB Inc operates in the technology services sector, specifically in the packaged software industry. The company’s corporate headquarters are located in New York, New York. Investors and analysts will be eagerly awaiting MDB’s next reporting date on December 6, 2023, to assess the company’s financial performance for the current quarter. The earnings per share (EPS) forecast for this quarter is $0.27. In the previous year, MDB reported annual revenue of $1.3 billion but incurred a net loss of -$345.4 million, resulting in a net profit margin of -26.90%.

Overall, MDB’s stock performance on September 8, 2023, was not explicitly mentioned, but the company’s impressive earnings and revenue growth rates, combined with its significant market capitalization, indicate its potential for future success. Investors should closely monitor the company’s financial performance and market trends to make informed investment decisions.

Promising Performance and Potential Growth: MongoDB Inc Stock Analysis and Forecast

On September 8, 2023, MongoDB Inc (MDB) stock showed promising performances based on the information provided. According to CNN Money, 23 analysts have provided 12-month price forecasts for the stock, with a median target of $450.00. The high estimate is $500.00, while the low estimate stands at $250.00.

The median estimate of $450.00 represents a 19.24% increase from the last recorded price of $377.38. This suggests that the analysts expect MongoDB Inc’s stock price to rise significantly in the coming months.

The consensus among 28 polled investment analysts is to buy stock in MongoDB Inc. This rating has remained unchanged since September, indicating that the positive sentiment towards the stock has been consistent.

In terms of the company’s financials, MongoDB Inc reported earnings per share of $0.27 for the current quarter. This indicates the company’s profitability and ability to generate earnings for its shareholders. Additionally, the company reported sales of $389.8 million, reflecting its strong revenue generation capabilities.

Investors can look forward to the reporting date of December 6, when MongoDB Inc will release its financial results for the current quarter. This will provide further insights into the company’s financial performance and may impact the stock’s future price movements.

Overall, based on the information provided, MongoDB Inc’s stock performances on September 8, 2023, appear promising. The positive outlook from analysts, the consensus to buy the stock, and the company’s strong financial performance indicate that MongoDB Inc has the potential for future growth. Investors may want to consider this information when making investment decisions.

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Someone with a lot of money to spend has taken a bullish stance on MongoDB MDB.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don’t know. But when something this big happens with MDB, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga‘s options scanner spotted 10 uncommon options trades for MongoDB.

This isn’t normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $505,892, and 6 are calls, for a total amount of $243,514.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $320.0 to $650.0 for MongoDB over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for MongoDB’s options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of MongoDB’s whale activity within a strike price range from $320.0 to $650.0 in the last 30 days.

MongoDB Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is MongoDB Standing Right Now?

• With a volume of 536,382, the price of MDB is down -0.21% at $376.73.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 88 days.

What The Experts Say On MongoDB:

• Guggenheim has decided to maintain their Sell rating on MongoDB, which currently sits at a price target of $250.
• Barclays has decided to maintain their Overweight rating on MongoDB, which currently sits at a price target of $450.
• RBC Capital downgraded its action to Outperform with a price target of $445
• Truist Securities has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $430.
• JMP Securities has decided to maintain their Market Outperform rating on MongoDB, which currently sits at a price target of $440.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for MongoDB, Benzinga Pro gives you real-time options trades alerts.

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

MongoDB, Inc. (NASDAQ:MDB – Get Free Report) Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $389.50, for a total transaction of $2,337,000.00. Following the completion of the transaction, the director now owns 1,201,159 shares in the company, valued at $467,851,430.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

MongoDB Stock Performance

NASDAQ:MDB opened at $377.54 on Friday. MongoDB, Inc. has a twelve month low of $135.15 and a twelve month high of $439.00. The company has a current ratio of 4.48, a quick ratio of 4.19 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average of $389.53 and a 200-day moving average of $308.62. The firm has a market cap of $26.65 billion, a price-to-earnings ratio of -109.12 and a beta of 1.11.

Institutional Trading of MongoDB

Institutional investors have recently made changes to their positions in the stock. Simplicity Solutions LLC raised its position in MongoDB by 2.2% during the second quarter. Simplicity Solutions LLC now owns 1,169 shares of the company’s stock valued at $480,000 after acquiring an additional 25 shares in the last quarter. AJ Wealth Strategies LLC increased its position in MongoDB by 1.2% during the second quarter. AJ Wealth Strategies LLC now owns 2,390 shares of the company’s stock worth $982,000 after acquiring an additional 28 shares during the period. Assenagon Asset Management S.A. increased its position in MongoDB by 1.4% during the second quarter. Assenagon Asset Management S.A. now owns 2,239 shares of the company’s stock worth $920,000 after acquiring an additional 32 shares during the period. Veritable L.P. boosted its stake in MongoDB by 1.4% during the second quarter. Veritable L.P. now owns 2,321 shares of the company’s stock worth $954,000 after buying an additional 33 shares in the last quarter. Finally, Choreo LLC boosted its stake in MongoDB by 3.5% during the second quarter. Choreo LLC now owns 1,040 shares of the company’s stock worth $427,000 after buying an additional 35 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MDB. Needham & Company LLC increased their target price on shares of MongoDB from $430.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, September 1st. UBS Group increased their price objective on shares of MongoDB from $425.00 to $465.00 and gave the company a “buy” rating in a research report on Friday, September 1st. Mizuho increased their price objective on shares of MongoDB from $240.00 to $260.00 in a research report on Friday, September 1st. Macquarie increased their target price on shares of MongoDB from $434.00 to $456.00 in a research report on Friday, September 1st. Finally, Canaccord Genuity Group increased their target price on shares of MongoDB from $410.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $418.08.

Check Out Our Latest Analysis on MDB

MongoDB Company Profile

(Get Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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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Article originally posted on mongodb google news. Visit mongodb google news