MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of some unusual options trading activity on Wednesday. Stock traders bought 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.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $172.19 on Friday. MongoDB has a 1-year low of $140.78 and a 1-year high of $380.94. The firm has a fifty day moving average price of $186.51 and a 200 day moving average price of $245.99. The stock has a market cap of $13.98 billion, a P/E ratio of -62.84 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same period last year, the firm earned $0.86 EPS. Sell-side analysts expect that MongoDB will post -1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDB has been the topic of several recent research reports. Bank of America cut their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $350.00 price objective on shares of MongoDB in a research report on Tuesday, March 4th. Scotiabank reissued a “sector perform” rating and issued a $160.00 price objective (down previously from $240.00) on shares of MongoDB in a research note on Friday, April 25th. Piper Sandler lowered their price objective on MongoDB from $280.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, China Renaissance started coverage on shares of MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $294.78.

Insider Activity at MongoDB

In related news, CFO Srdjan Tanjga sold 525 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the sale, the chief financial officer now directly owns 6,406 shares in the company, valued at $1,109,903.56. The trade was a 7.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the completion of the sale, the chief executive officer now owns 268,948 shares of the company’s stock, valued at $46,597,930.48. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,345 shares of company stock worth $8,485,310 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB in the 4th quarter valued at $29,000. Hilltop National Bank lifted its holdings in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of MongoDB during the first quarter valued at approximately $25,000. NCP Inc. bought a new position in MongoDB in the 4th quarter valued at about $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in MongoDB in the third quarter worth approximately $44,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.