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

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading activity on Wednesday. Investors purchased 23,831 put options on the company. This represents an increase of approximately 2,157% compared to the typical volume of 1,056 put options.

Insider Transactions at MongoDB

In other MongoDB news, CAO Thomas Bull sold 154 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Cedric Pech sold 302 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares in the company, valued at $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock worth $7,611,849 in the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently modified their holdings of MDB. Jennison Associates LLC boosted its stake in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares during the period. Geode Capital Management LLC increased its stake in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the period. Swedbank AB raised its holdings in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake 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 buying an additional 7,526 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research note on Tuesday. Stifel Nicolaus boosted their price target on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird raised their price objective on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday. Sanford C. Bernstein upped their target price on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Barclays raised their price target on shares of MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $372.88.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $297.20 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The firm has a market capitalization of $21.95 billion, a P/E ratio of -98.41 and a beta of 1.17. The company’s fifty day moving average price is $292.42 and its 200 day moving average price is $268.98.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 EPS. As a group, sell-side analysts predict that MongoDB will post -2.37 earnings per share for the current fiscal year.

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.