MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

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

Insider Transactions at MongoDB

In related news, CFO Michael Lawrence Gordon sold 1,245 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $291,442.05. Following the sale, the chief financial officer now owns 79,062 shares in the company, valued at $18,507,623.58. This represents a 1.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas Bull sold 169 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 value of $39,561.21. Following the completion of the sale, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock worth $11,328,869 over the last ninety days. 3.60% of the stock is owned by insiders.

Institutional Trading of MongoDB

Large investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of MongoDB during the 4th quarter worth $29,000. Hilltop National Bank lifted its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. NCP Inc. bought a new position in MongoDB during the fourth quarter worth about $35,000. Brooklyn Investment Group purchased a new position in shares of MongoDB in the third quarter worth about $36,000. Finally, Continuum Advisory LLC raised its position in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $190.06 on Thursday. MongoDB has a fifty-two week low of $173.13 and a fifty-two week high of $387.19. The company’s 50-day moving average is $253.21 and its 200 day moving average is $270.89. The company has a market capitalization of $14.15 billion, a P/E ratio of -69.36 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the company earned $0.86 earnings per share. As a group, research analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MDB shares. UBS Group set a $350.00 price objective on shares of MongoDB in a research note on Tuesday, March 4th. Piper Sandler dropped their price objective on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. China Renaissance initiated coverage on shares of MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective on the stock. Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Monday, January 6th. Finally, Stifel Nicolaus cut their price target on MongoDB from $425.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

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.