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MongoDB, Inc. (NASDAQ:MDB – Get Rating) was the target of some unusual options trading activity on Wednesday. Traders bought 23,831 put options on the stock. This represents an increase of 2,157% compared to the typical daily volume of 1,056 put options.
MongoDB Price Performance
MDB opened at $282.50 on Thursday. MongoDB has a one year low of $135.15 and a one year high of $390.84. The company has a debt-to-equity ratio of 1.54, a current ratio of 3.80 and a quick ratio of 3.80. The company’s 50 day simple moving average is $227.97 and its 200-day simple moving average is $203.99. The stock has a market capitalization of $19.79 billion, a P/E ratio of -56.05 and a beta of 1.06.
MongoDB (NASDAQ:MDB – Get Rating) last released its quarterly earnings results on Wednesday, March 8th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.18) by $0.20. MongoDB had a negative net margin of 26.90% and a negative return on equity of 48.38%. The business had revenue of $361.31 million for the quarter, compared to analysts’ expectations of $335.84 million. Sell-side analysts anticipate that MongoDB will post -4.04 earnings per share for the current fiscal year.
Insider Activity
In other news, CTO Mark Porter sold 2,673 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $250.00, for a total transaction of $668,250.00. Following the transaction, the chief technology officer now directly owns 40,336 shares in the company, valued at approximately $10,084,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CTO Mark Porter sold 2,673 shares of MongoDB stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $250.00, for a total value of $668,250.00. Following the completion of the sale, the chief technology officer now owns 40,336 shares of the company’s stock, valued at approximately $10,084,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 14,095 shares of MongoDB stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $206.95, for a total transaction of $2,916,960.25. Following the completion of the sale, the director now directly owns 1,227,954 shares of the company’s stock, valued at approximately $254,125,080.30. The disclosure for this sale can be found here. Insiders have sold a total of 135,108 shares of company stock worth $30,127,927 in the last ninety days. Corporate insiders own 5.70% of the company’s stock.
Hedge Funds Weigh In On MongoDB
Several large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings 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 worth $1,770,313,000 after purchasing an additional 897,911 shares during the period. Vanguard Group Inc. raised its holdings in MongoDB by 1.0% in the third quarter. Vanguard Group Inc. now owns 6,127,231 shares of the company’s stock worth $1,216,623,000 after purchasing an additional 62,303 shares during the period. Franklin Resources Inc. raised its holdings in MongoDB by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 1,962,574 shares of the company’s stock worth $386,313,000 after purchasing an additional 118,055 shares during the period. State Street Corp raised its holdings in MongoDB by 1.8% in the first quarter. State Street Corp now owns 1,386,773 shares of the company’s stock worth $323,280,000 after purchasing an additional 24,595 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings 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 worth $200,383,000 after purchasing an additional 1,017,969 shares during the period. 84.86% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on MDB shares. Needham & Company LLC boosted their target price on shares of MongoDB from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, March 9th. Morgan Stanley raised shares of MongoDB from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $230.00 to $270.00 in a research report on Wednesday, April 12th. Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price objective on shares of MongoDB in a research report on Thursday, March 9th. Citigroup cut their price objective on shares of MongoDB from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, March 7th. Finally, Stifel Nicolaus cut their price objective on shares of MongoDB from $256.00 to $240.00 in a research report on Thursday, February 23rd. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $257.00.
MongoDB Company Profile
MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.
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