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MongoDB, Inc. (NASDAQ:MDB – Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders purchased 36,130 call options on the stock. This is an increase of 2,077% compared to the average daily volume of 1,660 call options.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on MDB shares. 58.com restated a “maintains” rating on shares of MongoDB in a research note on Monday, June 26th. Guggenheim upped their price target on MongoDB from $220.00 to $250.00 and gave the stock a “sell” rating in a research note on Friday, September 1st. Tigress Financial increased their target price on MongoDB from $365.00 to $490.00 in a research report on Wednesday, June 28th. Truist Financial increased their target price on MongoDB from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, September 1st. Finally, Macquarie increased their target price on MongoDB from $434.00 to $456.00 in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average price target of $418.08.
Read Our Latest Research Report on MongoDB
MongoDB Stock Performance
MDB stock opened at $351.66 on Thursday. The company has a quick ratio of 4.48, a current ratio of 4.48 and a debt-to-equity ratio of 1.29. The business’s fifty day simple moving average is $383.50 and its two-hundred day simple moving average is $319.18. MongoDB has a twelve month low of $135.15 and a twelve month high of $439.00. The firm has a market cap of $25.09 billion, a price-to-earnings ratio of -101.64 and a beta of 1.11.
Insider Buying and Selling
In related news, Director Hope F. Cochran sold 2,174 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $361.31, for a total value of $785,487.94. Following the completion of the sale, the director now directly owns 9,722 shares of the company’s stock, valued at approximately $3,512,655.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Hope F. Cochran sold 2,174 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $361.31, for a total value of $785,487.94. Following the completion of the sale, the director now directly owns 9,722 shares of the company’s stock, valued at approximately $3,512,655.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mark Porter sold 2,734 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $412.33, for a total value of $1,127,310.22. Following the completion of the transaction, the chief technology officer now owns 35,056 shares of the company’s stock, valued at $14,454,640.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,694 shares of company stock valued at $41,820,161. 4.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On MongoDB
Several institutional investors have recently made changes to their positions in MDB. Jennison Associates LLC increased its stake in shares of MongoDB by 101,056.3% during the second quarter. Jennison Associates LLC now owns 1,988,733 shares of the company’s stock valued at $817,350,000 after buying an additional 1,986,767 shares during the period. 1832 Asset Management L.P. grew its stake in MongoDB by 3,283,771.0% in the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock valued at $200,383,000 after purchasing an additional 1,017,969 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in MongoDB by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock valued at $1,770,313,000 after purchasing an additional 897,911 shares during the last quarter. Renaissance Technologies LLC grew its stake in MongoDB by 493.2% in the fourth quarter. Renaissance Technologies LLC now owns 918,200 shares of the company’s stock valued at $180,738,000 after purchasing an additional 763,400 shares during the last quarter. Finally, Norges Bank purchased a new position in MongoDB in the fourth quarter valued at about $147,735,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.
About MongoDB
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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