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MongoDB, Inc. (NASDAQ:MDB – Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 36,130 call options on the company. This represents an increase of 2,077% compared to the average daily volume of 1,660 call options.
MongoDB Trading Up 1.8%
Shares of MongoDB stock opened at $228.25 on Thursday. The business has a 50-day moving average price of $204.58 and a two-hundred day moving average price of $212.84. MongoDB has a 1-year low of $140.78 and a 1-year high of $370.00. The company has a market cap of $18.65 billion, a P/E ratio of -200.22 and a beta of 1.41.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. The company had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. Equities research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.
Insider Buying and Selling
In other MongoDB news, Director Dwight A. Merriman sold 820 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the transaction, the director directly owned 1,106,186 shares of the company’s stock, valued at approximately $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 3,747 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the sale, the chief executive officer directly owned 253,227 shares in the company, valued at approximately $52,177,423.35. This represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,746 shares of company stock worth $7,500,196. Corporate insiders own 3.10% of the company’s stock.
Hedge Funds Weigh In On MongoDB
Several large investors have recently added to or reduced their stakes in MDB. Jericho Capital Asset Management L.P. bought a new position in shares of MongoDB during the 1st quarter worth approximately $161,543,000. Norges Bank purchased a new position in MongoDB in the fourth quarter valued at about $189,584,000. Primecap Management Co. CA boosted its stake in MongoDB by 863.5% in the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company’s stock valued at $152,694,000 after acquiring an additional 780,200 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of MongoDB in the 1st quarter worth approximately $128,706,000. Finally, Vanguard Group Inc. raised its holdings in shares of MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company’s stock worth $1,369,833,000 after purchasing an additional 481,023 shares during the period. Institutional investors own 89.29% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently weighed in on MDB shares. William Blair reaffirmed an “outperform” rating on shares of MongoDB in a report on Thursday, June 26th. Bank of America raised their price objective on shares of MongoDB from $215.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Stifel Nicolaus dropped their price target on shares of MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Monness Crespi & Hardt raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price objective on the stock in a report on Thursday, June 5th. Finally, Stephens assumed coverage on shares of MongoDB in a report on Friday, July 18th. They issued an “equal weight” rating and a $247.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $281.35.
Read Our Latest Analysis on MongoDB
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.
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