MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading on Wednesday. Traders acquired 23,831 put options on the company. This represents an increase of approximately 2,157% compared to the average daily volume of 1,056 put options.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDB. DA Davidson upped their target price on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research note on Wednesday, December 11th. Needham & Company LLC increased their price objective on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Macquarie started coverage on shares of MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $425.00 price target on shares of MongoDB in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $361.00.

MongoDB Stock Performance

MDB opened at $290.00 on Friday. The company has a fifty day moving average of $261.59 and a two-hundred day moving average of $273.25. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of -105.84 and a beta of 1.28. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $459.70.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. On average, equities research analysts forecast that MongoDB will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 885 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total value of $258,464.25. Following the sale, the director now directly owns 83,845 shares in the company, valued at approximately $24,486,932.25. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,979 shares of company stock worth $11,963,757 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after acquiring an additional 23,942 shares during the period. Jennison Associates LLC increased its stake in shares of MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Franklin Resources Inc. raised its position in shares of MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Geode Capital Management LLC lifted its stake in MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after buying an additional 22,106 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after buying an additional 95,893 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.