MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading on Wednesday. Traders bought 36,130 call options on the company. This is an increase of approximately 2,077% compared to the typical daily volume of 1,660 call options.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MDB shares. The Goldman Sachs Group decreased their price target on MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Oppenheimer lowered their price objective on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Mizuho upgraded shares of MongoDB from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $290.00 to $325.00 in a research report on Monday, March 23rd. Zacks Research lowered MongoDB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $425.00 price objective on shares of MongoDB in a research report on Monday, March 2nd. Twenty-six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $363.58.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $290.06, for a total transaction of $580,120.00. Following the completion of the sale, the director directly owned 1,003,316 shares of the company’s stock, valued at $291,021,838.96. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director directly owned 24,093 shares of the company’s stock, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,566 shares of company stock worth $3,875,011 in the last three months. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in MongoDB in the 1st quarter worth $18,725,000. Renaissance Technologies LLC bought a new position in MongoDB in the 1st quarter worth $34,459,000. SC US Ttgp LTD. bought a new position in MongoDB in the 1st quarter worth $662,000. GC Wealth Management RIA LLC raised its holdings in MongoDB by 4.6% in the 1st quarter. GC Wealth Management RIA LLC now owns 1,890 shares of the company’s stock worth $463,000 after acquiring an additional 83 shares during the period. Finally, Inceptionr LLC acquired a new position in shares of MongoDB during the first quarter worth approximately $316,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Up 0.0%

MDB stock opened at $303.09 on Friday. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of -344.42 and a beta of 1.48. MongoDB has a 12 month low of $182.43 and a 12 month high of $444.72. The firm has a 50 day moving average of $261.14 and a two-hundred day moving average of $335.93.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18. The company had revenue of $695.07 million during the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 earnings per share. On average, research analysts expect that MongoDB will post -0.46 EPS for the current fiscal year.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.