Investors Purchase High Volume of MongoDB Call Options (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 36,130 call options on the company. This is an increase of 2,077% compared to the average volume of 1,660 call options.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Daiwa Capital Markets began coverage on shares of MongoDB in a research report on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 price objective for the company. Cantor Fitzgerald assumed coverage on MongoDB in a research report on Wednesday, March 5th. They issued an "overweight" rating and a $344.00 price objective on the stock. Canaccord Genuity Group reduced their price objective on MongoDB from $385.00 to $320.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC lowered their target price on MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Finally, Piper Sandler dropped their target price on MongoDB from $280.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $286.88.

Insiders Place Their Bets

In other news, CFO Srdjan Tanjga sold 525 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. The trade was a 7.57% 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, insider Cedric Pech sold 1,690 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the sale, the insider now directly owns 57,634 shares of the company's stock, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,203 shares of company stock valued at $4,660,459. Insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently modified their holdings of MDB. Acadian Asset Management LLC raised its position in shares of MongoDB by 181.8% during the first quarter. Acadian Asset Management LLC now owns 562,190 shares of the company's stock worth $98,586,000 after purchasing an additional 362,705 shares during the period. IFM Investors Pty Ltd increased its stake in MongoDB by 4.3% in the 1st quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company's stock worth $2,420,000 after purchasing an additional 569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in MongoDB by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company's stock worth $223,011,000 after purchasing an additional 129,451 shares in the last quarter. Woodline Partners LP raised its holdings in MongoDB by 30,297.0% during the 1st quarter. Woodline Partners LP now owns 322,208 shares of the company's stock worth $56,515,000 after buying an additional 321,148 shares during the period. Finally, Meiji Yasuda Life Insurance Co lifted its stake in MongoDB by 36.1% during the first quarter. Meiji Yasuda Life Insurance Co now owns 3,997 shares of the company's stock valued at $701,000 after buying an additional 1,060 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Price Performance

Shares of MDB traded down $2.24 during midday trading on Friday, reaching $187.12. The stock had a trading volume of 2,627,437 shares, compared to its average volume of 1,927,996. The company has a market capitalization of $15.19 billion, a P/E ratio of -68.29 and a beta of 1.49. The firm's 50 day moving average price is $174.36 and its 200-day moving average price is $233.50. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, equities analysts forecast that MongoDB will post -1.78 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.