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MongoDB, Inc. (NASDAQ:MDB – Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders bought 36,130 call options on the stock. This represents an increase of 2,077% compared to the typical daily volume of 1,660 call options.
MongoDB Price Performance
MDB stock traded up $0.06 during trading hours on Thursday, reaching $210.66. The stock had a trading volume of 2,180,893 shares, compared to its average volume of 1,956,303. The stock has a 50-day simple moving average of $179.38 and a 200 day simple moving average of $227.94. The stock has a market capitalization of $17.10 billion, a PE ratio of -76.88 and a beta of 1.39. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $370.00.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same period last year, the business posted $0.51 earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, sell-side analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of MongoDB in a report on Thursday, June 5th. Guggenheim boosted their target price on MongoDB from $235.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, June 5th. The Goldman Sachs Group dropped their target price on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Truist Financial dropped their price objective on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Cantor Fitzgerald lifted their price objective on MongoDB from $252.00 to $271.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.47.
Read Our Latest Analysis on MongoDB
Insider Activity
In related news, Director Hope F. Cochran sold 1,175 shares of MongoDB stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total value of $205,260.75. Following the transaction, the director now owns 19,333 shares in the company, valued at $3,377,281.77. This trade represents a 5.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dev Ittycheria sold 25,005 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $5,851,170.00. Following the sale, the chief executive officer now owns 256,974 shares of the company’s stock, valued at approximately $60,131,916. The trade was a 8.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,208 shares of company stock worth $10,167,739 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in MDB. Strategic Investment Solutions Inc. IL acquired a new position in MongoDB during the fourth quarter valued at approximately $29,000. Cloud Capital Management LLC bought a new stake in shares of MongoDB in the 1st quarter valued at about $25,000. NCP Inc. acquired a new stake in MongoDB during the 4th quarter valued at approximately $35,000. Hollencrest Capital Management bought a new position in MongoDB during the first quarter worth $26,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 120 shares during the period. 89.29% of the stock is owned by institutional investors.
About MongoDB
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.
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