MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 23,831 put options on the stock. This is an increase of 2,157% compared to the typical volume of 1,056 put options.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now directly owns 14,899 shares in the company, valued at $3,487,706.91. The trade was a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cedric Pech sold 287 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock valued at $11,328,869 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of MongoDB in the 4th quarter valued at about $189,584,000. Jennison Associates LLC raised its stake in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares in the last quarter. Marshall Wace LLP purchased a new stake in MongoDB during the fourth quarter worth $110,356,000. Raymond James Financial Inc. bought a new stake in MongoDB during the 4th quarter valued at $90,478,000. Finally, D1 Capital Partners L.P. purchased a new position in shares of MongoDB in the 4th quarter valued at $76,129,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Price Performance

NASDAQ:MDB opened at $190.06 on Thursday. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of -69.36 and a beta of 1.30. The business has a 50 day simple moving average of $253.21 and a 200-day simple moving average of $270.89. MongoDB has a 1 year low of $173.13 and a 1 year high of $387.19.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter last year, the firm earned $0.86 EPS. As a group, analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut their price objective on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group reduced their price target on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Barclays lowered their price objective on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Canaccord Genuity Group reduced their target price on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Tigress Financial raised their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $320.70.

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.