MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 36,130 call options on the company. This represents an increase of approximately 2,077% compared to the average volume of 1,660 call options.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MDB. Barclays increased their target price on shares of MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Piper Sandler reiterated an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Oppenheimer boosted their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their target price on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, KeyCorp boosted their price target on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $367.14.

MongoDB Trading Up 1.1 %

Shares of MDB stock opened at $248.68 on Friday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The firm’s 50 day moving average is $282.39 and its 200-day moving average is $269.01. 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 (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during 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%. MongoDB’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. On average, equities research analysts forecast that MongoDB will post -1.86 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total value of $713,190.00. Following the completion of the sale, the director now directly owns 1,117,006 shares in the company, valued at approximately $265,545,836.38. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the transaction, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,161 shares of company stock worth $8,427,806. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently added to or reduced their stakes in MDB. Jennison Associates LLC boosted its stake in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares during the period. Point72 Asset Management L.P. bought a new position in MongoDB in the second quarter valued at approximately $52,131,000. Avala Global LP acquired a new stake in MongoDB during the 3rd quarter worth $47,960,000. Finally, Renaissance Technologies LLC lifted its stake in shares of MongoDB by 828.9% in the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after purchasing an additional 163,300 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

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.