MongoDB Target of Unusually High Options Trading (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading activity on Wednesday. Investors acquired 23,831 put options on the stock. This represents an increase of 2,157% compared to the typical daily volume of 1,056 put options.

Insider Transactions at MongoDB

In other news, insider Cedric Pech sold 287 shares of the business’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 $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,491 shares of company stock worth $11,543,480 in the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after acquiring an additional 592,038 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares during the period. Westfield Capital Management Co. LP grew its position in MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after purchasing an additional 7,526 shares in the last quarter. Raymond James Financial Inc. acquired a new position in MongoDB in the 4th quarter valued at approximately $90,478,000. Finally, Holocene Advisors LP lifted its position in MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after buying an additional 66,730 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of analyst reports. DA Davidson lifted their price objective on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird lifted their price target on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Piper Sandler restated an “overweight” rating and set a $425.00 target price on shares of MongoDB in a research note on Tuesday, December 10th. Rosenblatt Securities assumed coverage on MongoDB in a research note on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Tigress Financial increased their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $361.00.

MongoDB Stock Performance

Shares of MDB stock opened at $278.10 on Friday. The firm has a market capitalization of $20.71 billion, a PE ratio of -101.50 and a beta of 1.28. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The stock has a fifty day moving average of $268.90 and a two-hundred day moving average of $270.32.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.96 EPS. Equities research analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

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.