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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of some unusual options trading on Wednesday. Traders purchased 23,831 put options on the company. This is an increase of approximately 2,157% compared to the average daily volume of 1,056 put options.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler upped their price objective on MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Wells Fargo & Company boosted their price target on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. DA Davidson upped their target price on shares of MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Needham & Company LLC lifted their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Barclays lifted their price objective on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.54.

Insider Buying and Selling at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the sale, the chief accounting officer now directly owns 16,222 shares in the company, valued at approximately $4,589,041.58. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the sale, the director now owns 1,127,006 shares in the company, valued at approximately $303,807,007.42. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,281 shares of company stock valued at $6,657,121. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of MDB. Aigen Investment Management LP purchased a new stake in shares of MongoDB during the 3rd quarter worth about $1,045,000. Sanctuary Advisors LLC acquired a new position in MongoDB in the second quarter worth approximately $1,860,000. Sycomore Asset Management raised its holdings in shares of MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after purchasing an additional 24,827 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of MongoDB by 327.6% in the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock valued at $3,899,000 after purchasing an additional 8,330 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in MongoDB by 179.7% during the first quarter. SG Americas Securities LLC now owns 7,142 shares of the company’s stock worth $2,561,000 after buying an additional 4,589 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Down 4.1 %

Shares of MongoDB stock traded down $11.82 during midday trading on Friday, hitting $279.77. The company’s stock had a trading volume of 1,763,926 shares, compared to its average volume of 1,432,002. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $20.67 billion, a P/E ratio of -92.64 and a beta of 1.15. The stock has a 50-day simple moving average of $278.14 and a 200-day simple moving average of $275.57.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.63) EPS. As a group, sell-side analysts expect that MongoDB will post -2.39 earnings per share for the current 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.