MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 36,130 call options on the company. This represents an increase of 2,077% compared to the typical volume of 1,660 call options.

Analysts Set New Price Targets

MDB has been the topic of several recent analyst reports. Scotiabank dropped their target price on shares of MongoDB from $350.00 to $275.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Mizuho lifted their target price on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Rosenblatt Securities initiated coverage on shares of MongoDB in a research report on Tuesday, December 17th. They set a “buy” rating and a $350.00 target price on the stock. Tigress Financial lifted their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley lifted their target price on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.00.

MongoDB Stock Performance

Shares of MDB opened at $278.10 on Friday. The stock has a market cap of $20.71 billion, a PE ratio of -101.50 and a beta of 1.28. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The firm’s 50-day simple moving average is $268.90 and its two-hundred day simple moving average is $270.32.

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

Insiders Place Their Bets

In other news, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $349.17, for a total value of $698,340.00. Following the completion of the sale, the director now owns 1,124,006 shares of the company’s stock, valued at approximately $392,469,175.02. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,491 shares of company stock worth $11,543,480. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of MongoDB during the fourth quarter valued at approximately $90,478,000. Arizona State Retirement System boosted its holdings in MongoDB by 1.9% in the fourth quarter. Arizona State Retirement System now owns 21,421 shares of the company’s stock worth $4,987,000 after purchasing an additional 406 shares during the last quarter. Aigen Investment Management LP boosted its holdings in MongoDB by 1.4% in the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock worth $913,000 after purchasing an additional 55 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in MongoDB in the fourth quarter worth approximately $10,135,000. Finally, J.Safra Asset Management Corp boosted its holdings in MongoDB by 72.0% in the fourth quarter. J.Safra Asset Management Corp now owns 387 shares of the company’s stock worth $91,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.