MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

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

MongoDB Stock Up 1.9%

NASDAQ MDB opened at $249.36 on Thursday. MongoDB has a 52 week low of $140.78 and a 52 week high of $444.72. The firm has a market capitalization of $20.04 billion, a P/E ratio of -283.36 and a beta of 1.60. The company has a 50-day moving average price of $314.65 and a 200-day moving average price of $347.72.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 earnings per share. As a group, equities research analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total value of $4,077,000.00. Following the completion of the transaction, the director directly owned 1,031,316 shares of the company’s stock, valued at approximately $420,467,533.20. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 19,383 shares of company stock valued at $7,910,983 over the last three months. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently modified their holdings of the business. Clark Financial Services Group Inc. BD increased its stake in shares of MongoDB by 1.5% in the 4th quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company’s stock worth $702,000 after purchasing an additional 25 shares in the last quarter. Root Financial Partners LLC lifted its position in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares in the last quarter. True Wealth Design LLC lifted its position in MongoDB by 9.4% during the fourth quarter. True Wealth Design LLC now owns 419 shares of the company’s stock valued at $176,000 after purchasing an additional 36 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in MongoDB by 2.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock valued at $626,000 after purchasing an additional 36 shares during the period. Finally, Lido Advisors LLC increased its position in MongoDB by 3.4% in the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock worth $458,000 after buying an additional 36 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Scotiabank upgraded MongoDB from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $275.00 to $310.00 in a research note on Thursday, March 5th. Guggenheim reissued a “buy” rating and issued a $475.00 target price on shares of MongoDB in a report on Tuesday, March 3rd. Citigroup decreased their price target on MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Monness Crespi & Hardt lowered their price target on MongoDB from $475.00 to $370.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Twenty-seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $360.03.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.