MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading activity on Wednesday. Investors bought 36,130 call options on the stock. This represents an increase of approximately 2,077% compared to the average volume of 1,660 call options.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $268.52 on Thursday. The stock’s 50-day moving average is $344.29 and its 200-day moving average is $352.85. The company has a market cap of $21.85 billion, a P/E ratio of -305.14 and a beta of 1.40. MongoDB has a 52-week low of $140.78 and a 52-week high of $444.72.

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

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total value of $4,077,000.00. Following the completion of the sale, the director owned 1,031,316 shares of the company’s stock, valued at approximately $420,467,533.20. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 19,383 shares of company stock worth $7,910,983. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MDB. Cramer Rosenthal Mcglynn LLC raised its holdings in MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock valued at $17,938,000 after acquiring an additional 52,002 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MongoDB by 1,277.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock worth $5,655,000 after purchasing an additional 16,896 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of MongoDB by 209.0% during the third quarter. Pacer Advisors Inc. now owns 4,549 shares of the company’s stock valued at $1,412,000 after purchasing an additional 3,077 shares during the period. Penserra Capital Management LLC increased its position in shares of MongoDB by 42.1% during the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock valued at $41,910,000 after purchasing an additional 39,978 shares during the period. Finally, Pinegrove Venture Partners LLC acquired a new position in shares of MongoDB in the third quarter valued at $1,032,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Macquarie Infrastructure raised their target price on MongoDB from $305.00 to $385.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Argus increased their price objective on MongoDB from $340.00 to $488.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Zacks Research downgraded MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Needham & Company LLC reduced their target price on MongoDB from $500.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Stifel Nicolaus decreased their target price on MongoDB from $450.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $354.18.

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.