Stock traders buy large volume of call options on MongoDB (NASDAQ:MDB)

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MongoDB, Inc. (NASDAQ: MDBGet a rating) was the target of unusually heavy options trading activity on Wednesday. Traders bought 36,130 call options on the company. This represents an increase of approximately 2,077% from the typical volume of 1,660 call options.

Insider buying and selling

In related news, CEO Dev Ittycheria sold 40,107 shares of the company in a transaction dated Monday, October 3. The shares were sold at an average price of $199.87, for a total transaction of $8,016,186.09. Following the completion of the sale, the CEO now owns 194,646 shares of the company, valued at $38,903,896.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. In other MongoDB news, Director Dwight A. Merriman sold 14,095 shares in a trade dated Monday, October 3. The shares were sold at an average price of $199.13, for a total transaction of $2,806,737.35. Following completion of the transaction, the administrator now owns 1,322,954 shares of the company, valued at $263,439,830.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Also, CEO Dev Ittycheria sold 40,107 shares in a transaction dated Monday, October 3. The stock was sold at an average price of $199.87, for a total transaction of $8,016,186.09. As a result of the transaction, the CEO now owns 194,646 shares of the company, valued at approximately $38,903,896.02. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 87,665 shares of the company worth $19,034,603. Insiders hold 5.70% of the shares of the company.

Institutional investors weigh in on MongoDB

Several hedge funds and other institutional investors have recently changed their positions in MDB. John W. Brooker & Co. CPAs bought a new stake in MongoDB in Q2 for about $26,000. Prentice Wealth Management LLC purchased a new stake in MongoDB in Q2 worth approximately $26,000. Venture Visionary Partners LLC bought a new stake in MongoDB in Q2 for a valuation of approximately $28,000. Sentry Investment Management LLC purchased a new stake in MongoDB in Q3 for approximately $33,000. Finally, Alta Advisers Ltd acquired a new stake in MongoDB in Q3 worth approximately $40,000. Hedge funds and other institutional investors hold 89.85% of the company’s shares.

Analysts set new price targets

MDB has been the subject of several analyst reports. UBS Group cut its price target on MongoDB shares from $430.00 to $390.00 and set a “buy” rating for the company in a Thursday, September 1 research report. Truist Financial launched coverage on MongoDB shares in a research report on Friday, September 30. They set a “buy” rating and a target price of $300.00 for the business. Credit Suisse Group lowered its price target on MongoDB shares from $500.00 to $400.00 and set an “outperform” rating for the company in a Thursday, Sept. 1 research report. Citigroup lowered its price target on MongoDB shares from $450.00 to $445.00 and set a “buy” rating for the company in a Thursday, September 1 research report. Finally, Goldman Sachs Group lowered its price target on MongoDB shares to $430.00 in a Tuesday, September 6 research report. Two investment analysts gave the stock a hold rating and eighteen gave the stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $364.37.

Performance of MongoDB actions

Shares of MongoDB Stock opened at $174.69 on Thursday. The stock has a market capitalization of $12.00 billion, a price/earnings ratio of -32.59 and a beta of 1.07. The company’s 50-day moving average is $193.19 and its 200-day moving average is $257.85. MongoDB has a 1 year minimum of $135.15 and a 1 year maximum of $590.00. The company has a debt ratio of 1.70, a current ratio of 4.02 and a quick ratio of 4.02.

MongoDB (NASDAQ: MDBGet a rating) last reported results on Wednesday, August 31. The company reported ($1.69) earnings per share for the quarter, missing analyst consensus estimates of ($1.52) by ($0.17). MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The company posted revenue of $303.66 million in the quarter, compared to $282.31 million expected by analysts. During the same period last year, the company posted ($1.15) EPS. MongoDB’s quarterly revenue increased by 52.8% compared to the same quarter last year. Sell-side analysts expect MongoDB to post -5.37 EPS for the current fiscal year.

About MongoDB

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MongoDB, Inc provides a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database solution as a service; and Community Server, a free downloadable version of its database, which includes the features developers need to get started with MongoDB.

Further reading

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