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

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading on Wednesday. Stock traders purchased 23,831 put options on the stock. This represents an increase of approximately 2,157% compared to the average daily volume of 1,056 put options.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MDB shares. Rosenblatt Securities reissued a “buy” rating and issued a $425.00 price target on shares of MongoDB in a research report on Monday, March 2nd. Scotiabank upgraded shares of MongoDB from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $275.00 to $310.00 in a research note on Thursday, March 5th. Monness Crespi & Hardt dropped their target price on shares of MongoDB from $475.00 to $370.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Oppenheimer cut their target price on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Finally, Piper Sandler decreased their price target on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $354.18.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the sale, the director directly owned 80,462 shares in the company, valued at approximately $29,750,824.50. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 19,383 shares of company stock worth $7,910,983. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently made changes to their positions in the stock. Stance Capital LLC acquired a new stake in MongoDB during the fourth quarter worth about $1,393,000. Rockefeller Capital Management L.P. increased its stake in MongoDB by 198.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,638 shares of the company’s stock valued at $5,724,000 after acquiring an additional 9,065 shares during the period. Nalls Sherbakoff Group LLC acquired a new position in MongoDB in the 4th quarter valued at approximately $168,000. Corient Private Wealth LLC raised its holdings in MongoDB by 41.5% in the 4th quarter. Corient Private Wealth LLC now owns 4,448 shares of the company’s stock valued at $1,867,000 after acquiring an additional 1,304 shares in the last quarter. Finally, Worthington Financial Partners LLC bought a new stake in shares of MongoDB in the 4th quarter worth approximately $766,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Trading Down 1.4%

Shares of MongoDB stock opened at $268.52 on Thursday. MongoDB has a 1 year low of $140.78 and a 1 year high of $444.72. The company’s fifty day simple moving average is $344.29 and its 200-day simple moving average is $352.85. The company has a market cap of $21.85 billion, a price-to-earnings ratio of -305.14 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. During the same period in the prior year, the company earned $1.28 EPS. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. As a group, research analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

MongoDB Company Profile

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.