MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

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

Analyst Ratings Changes

Several brokerages have recently issued reports on MDB. Citigroup raised their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. China Renaissance initiated coverage on shares of MongoDB in a research note on Tuesday. They set a “buy” rating and a $351.00 price target on the stock. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. The Goldman Sachs Group upped their target price on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Tigress Financial upped their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $361.00.

Insider Buying and Selling

In other news, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $55,379,548.84. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the completion of the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,156 shares of company stock valued at $9,220,473 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Dimensional Fund Advisors LP grew its stake in shares of MongoDB by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 111,487 shares of the company’s stock valued at $27,865,000 after buying an additional 17,990 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of MongoDB by 57.5% during the second quarter. AE Wealth Management LLC now owns 5,523 shares of the company’s stock valued at $1,380,000 after buying an additional 2,017 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of MongoDB during the second quarter valued at approximately $599,000. Bank of Montreal Can grew its stake in shares of MongoDB by 13.9% during the second quarter. Bank of Montreal Can now owns 76,073 shares of the company’s stock valued at $19,028,000 after buying an additional 9,270 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of MongoDB by 0.9% during the second quarter. Xponance Inc. now owns 12,322 shares of the company’s stock valued at $3,080,000 after buying an additional 105 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Price Performance

Shares of MDB opened at $260.62 on Friday. MongoDB has a one year low of $212.74 and a one year high of $509.62. The firm has a market capitalization of $19.41 billion, a P/E ratio of -95.12 and a beta of 1.25. The business has a fifty day moving average of $275.99 and a 200 day moving average of $268.99.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. Analysts expect that MongoDB will post -1.79 EPS for the current fiscal year.

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.