MongoDB Target of Unusually Large Options Trading (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 2,077% compared to the typical volume of 1,660 call options.

MongoDB Trading Up 1.9%

MDB opened at $249.36 on Thursday. MongoDB has a 12-month low of $140.78 and a 12-month high of $444.72. The company’s 50 day moving average is $314.65 and its 200 day moving average is $347.72. The company has a market cap of $20.04 billion, a price-to-earnings ratio of -283.36 and a beta of 1.60.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. During the same period in the prior year, the business posted $1.28 EPS. MongoDB’s revenue was up 26.8% on a year-over-year basis. As a group, analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total value of $4,077,000.00. Following the transaction, the director owned 1,031,316 shares in the company, valued at approximately $420,467,533.20. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 19,383 shares of company stock valued at $7,910,983 over the last three months. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently made changes to their positions in the business. Stance Capital LLC bought a new position in MongoDB in the 4th quarter worth approximately $1,393,000. Rockefeller Capital Management L.P. lifted its position in MongoDB by 198.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,638 shares of the company’s stock valued at $5,724,000 after purchasing an additional 9,065 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new position in shares of MongoDB in the 4th quarter worth $168,000. Corient Private Wealth LLC grew its position in MongoDB by 41.5% in the fourth quarter. Corient Private Wealth LLC now owns 4,448 shares of the company’s stock worth $1,867,000 after acquiring an additional 1,304 shares in the last quarter. Finally, Worthington Financial Partners LLC purchased a new position in shares of MongoDB in the 4th quarter worth approximately $766,000. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDB. The Goldman Sachs Group decreased their price objective on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Raymond James Financial initiated coverage on MongoDB in a research note on Monday, December 15th. They set a “market perform” rating on the stock. Robert W. Baird reissued a “neutral” rating and issued a $260.00 target price (down from $500.00) on shares of MongoDB in a report on Tuesday, March 3rd. Truist Financial decreased their price target on MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MongoDB in a report on Friday, March 27th. Twenty-seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.03.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.