MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading on Wednesday. Stock investors acquired 23,831 put options on the stock. This is an increase of approximately 2,157% compared to the average daily volume of 1,056 put options.

MongoDB Trading Up 1.1 %

Shares of NASDAQ MDB opened at $248.68 on Thursday. The business has a 50-day moving average of $283.52 and a 200-day moving average of $269.30. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of -90.76 and a beta of 1.25. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period in the previous year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that MongoDB will post -1.86 earnings per share for the current year.

Insider Activity

In related news, insider Cedric Pech sold 287 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas Bull sold 169 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the transaction, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,161 shares of company stock valued at $8,427,806. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Large investors have recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares during the period. Brooklyn Investment Group purchased a new stake in MongoDB during the 3rd quarter valued at $36,000. Continuum Advisory LLC grew its holdings in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the last quarter. GAMMA Investing LLC increased its position in shares of MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of MongoDB during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MDB. Macquarie assumed coverage on shares of MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 price target for the company. 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. JMP Securities reiterated a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research note on Wednesday, December 11th. Rosenblatt Securities started coverage on MongoDB in a research note on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price objective for the company. Finally, Wedbush raised MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.14.

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.