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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw unusually large options trading on Wednesday. Stock investors acquired 23,831 put options on the stock. This represents an increase of 2,157% compared to the average daily volume of 1,056 put options.

MongoDB Stock Performance

MDB stock opened at $217.12 on Thursday. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00. The firm's fifty day moving average is $197.71 and its 200 day moving average is $214.60. The firm has a market cap of $17.74 billion, a P/E ratio of -190.46 and a beta of 1.41.

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

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 2,000 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $468,000.00. Following the completion of the transaction, the director directly owned 1,107,006 shares of the company's stock, valued at $259,039,404. The trade was a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 25,005 shares of the business'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 transaction, the chief executive officer directly owned 256,974 shares of the company's stock, valued at $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,746 shares of company stock worth $7,500,196. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after acquiring an additional 481,023 shares in the last quarter. Franklin Resources Inc. raised its position in MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after buying an additional 181,962 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 buying an additional 129,451 shares during the last quarter. Geode Capital Management LLC lifted its stake in MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after acquiring an additional 22,106 shares during the period. Finally, Amundi lifted its stake in MongoDB by 53.0% during the 1st quarter. Amundi now owns 1,061,457 shares of the company's stock valued at $173,378,000 after acquiring an additional 367,717 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, March 31st. JMP Securities reiterated a "market outperform" rating and set a $345.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Rosenblatt Securities dropped their target price on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, June 5th. Scotiabank raised their target price on shares of MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Finally, Wedbush restated an "outperform" rating and set a $300.00 target price on shares of MongoDB in a report on Thursday, June 5th. Eight equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $282.39.

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.

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