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 traders purchased 23,831 put options on the stock. This is an increase of approximately 2,157% compared to the typical volume of 1,056 put options.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MDB shares. Daiwa America raised shares of MongoDB to a “strong-buy” rating in a research note on Tuesday, April 1st. Loop Capital lowered shares of MongoDB from a “buy” rating to a “hold” rating and cut their price objective for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price on shares of MongoDB in a report on Thursday, June 5th. Monness Crespi & Hardt raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price objective for the company in a research report on Thursday, June 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $345.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $282.47.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $210.60 on Thursday. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of -76.86 and a beta of 1.39. The firm’s 50-day simple moving average is $179.38 and its 200 day simple moving average is $227.94. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $370.00.

MongoDB (NASDAQ:MDB) last announced its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 25,005 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the transaction, the chief executive officer now owns 256,974 shares of the company’s stock, valued at $60,131,916. This represents a 8.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the transaction, the insider now owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. This represents a 2.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,208 shares of company stock valued at $10,167,739. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cloud Capital Management LLC purchased a new position in MongoDB during the 1st quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in shares of MongoDB during the first quarter valued at approximately $26,000. Cullen Frost Bankers Inc. lifted its holdings in MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after buying an additional 120 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in MongoDB in the fourth quarter worth about $29,000. Finally, NCP Inc. bought a new position in MongoDB in the fourth quarter worth $35,000. Institutional investors own 89.29% of the company’s stock.

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.