MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading on Wednesday. Stock traders bought 23,831 put options on the company. This represents an increase of 2,157% compared to the typical daily volume of 1,056 put options.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MDB shares. Wells Fargo & Company raised their price objective on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Loop Capital raised their price objective on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. China Renaissance started coverage on shares of MongoDB in a report on Tuesday. They issued a “buy” rating and a $351.00 target price for the company. KeyCorp increased their target price on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Scotiabank dropped their price objective on shares of MongoDB from $350.00 to $275.00 and set a “sector perform” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $361.00.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $265.00, for a total value of $265,000.00. Following the transaction, the director now owns 1,116,006 shares of the company’s stock, valued at $295,741,590. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $267.85, for a total value of $1,339,250.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at $21,510,229.95. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,156 shares of company stock worth $9,220,473 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MDB. Jennison Associates LLC boosted its position in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares in the last quarter. Geode Capital Management LLC lifted its position 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 in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after purchasing an additional 7,526 shares in the last quarter. Holocene Advisors LP lifted its position in shares of MongoDB by 22.6% during the third quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after purchasing an additional 66,730 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after buying an additional 294,228 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Performance

MongoDB stock opened at $260.62 on Friday. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of -95.12 and a beta of 1.25. The company has a 50 day moving average price of $275.99 and a 200 day moving average price of $268.99.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter last year, the firm earned $0.96 EPS. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities analysts forecast that MongoDB will post -1.79 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.