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

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

Analysts Set New Price Targets

MDB has been the subject of several research reports. Wells Fargo & Company lifted their price objective on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Monday. Oppenheimer increased their price target on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Monness Crespi & Hardt downgraded shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.14.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total transaction of $713,190.00. Following the completion of the sale, the director now owns 1,117,006 shares of the company’s stock, valued at $265,545,836.38. The trade was a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,161 shares of company stock valued at $8,427,806. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its stake in MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in MongoDB during the second quarter worth $52,131,000. Avala Global LP purchased a new stake in MongoDB during the third quarter worth $47,960,000. Finally, Renaissance Technologies LLC grew its holdings in MongoDB by 828.9% in the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after purchasing an additional 163,300 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of MongoDB stock opened at $248.68 on Thursday. The business has a 50-day simple moving average of $283.52 and a 200-day simple moving average of $269.30. The company has a market cap of $18.52 billion, a PE ratio of -90.76 and a beta of 1.25. MongoDB has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. On average, sell-side analysts predict that MongoDB will post -1.86 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.