MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the target of some unusual options trading on Wednesday. Investors purchased 23,831 put options on the company. This represents an increase of 2,157% compared to the average volume of 1,056 put options.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MDB shares. Wolfe Research started coverage on MongoDB in a research report on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 price objective for the company. DA Davidson reissued a "buy" rating and issued a $275.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Piper Sandler raised their price objective on MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Loop Capital downgraded MongoDB from a "buy" rating to a "hold" rating and dropped their price target for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. Finally, Monness Crespi & Hardt upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price target on the stock in a research note on Thursday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and an average target price of $281.35.

MongoDB Stock Performance

Shares of MDB traded up $6.21 during midday trading on Friday, hitting $241.37. 3,587,641 shares of the stock were exchanged, compared to its average volume of 1,955,337. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The stock has a fifty day simple moving average of $206.48 and a 200 day simple moving average of $212.44. The firm has a market cap of $19.72 billion, a P/E ratio of -211.73 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. As a group, equities research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Dev Ittycheria sold 25,005 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the sale, the chief executive officer owned 256,974 shares of the company's stock, valued at $60,131,916. This trade represents a 8.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. The trade was a 5.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,746 shares of company stock worth $7,725,196. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. OneDigital Investment Advisors LLC raised its stake in MongoDB by 3.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock valued at $243,000 after buying an additional 39 shares in the last quarter. Handelsbanken Fonder AB raised its stake in MongoDB by 0.4% in the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after buying an additional 65 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in MongoDB by 4.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock valued at $383,000 after buying an additional 75 shares in the last quarter. Wedbush Securities Inc. raised its stake in MongoDB by 2.6% in the first quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock valued at $530,000 after buying an additional 77 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in MongoDB by 15.9% in the first quarter. Fifth Third Bancorp now owns 569 shares of the company's stock valued at $100,000 after buying an additional 78 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.