MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading activity on Wednesday. Traders acquired 36,130 call options on the stock. This represents an increase of approximately 2,077% compared to the typical volume of 1,660 call options.

MongoDB Price Performance

Shares of MongoDB stock opened at $342.75 on Thursday. MongoDB has a 12-month low of $212.52 and a 12-month high of $509.62. The firm has a market cap of $24.96 billion, a PE ratio of -138.21 and a beta of 1.19. The company’s fifty day simple moving average is $399.36 and its two-hundred day simple moving average is $390.78. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.32). MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. The firm had revenue of $458.00 million for the quarter, compared to analysts’ expectations of $431.99 million. As a group, equities analysts expect that MongoDB will post -2.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MDB. DA Davidson upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $405.00 to $430.00 in a report on Friday, March 8th. Citigroup upped their price target on shares of MongoDB from $515.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Tigress Financial increased their target price on MongoDB from $495.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Redburn Atlantic restated a “sell” rating and set a $295.00 price target (down previously from $410.00) on shares of MongoDB in a research note on Tuesday, March 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $440.00 target price on shares of MongoDB in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average price target of $448.74.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $404.20, for a total value of $404,200.00. Following the completion of the sale, the director now owns 527,896 shares of the company’s stock, valued at approximately $213,375,563.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $404.20, for a total value of $404,200.00. Following the sale, the director now directly owns 527,896 shares in the company, valued at $213,375,563.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Thomas Bull sold 170 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the transaction, the chief accounting officer now directly owns 17,360 shares of the company’s stock, valued at approximately $6,043,363.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,802 shares of company stock worth $36,356,911. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its position in MongoDB by 14.2% in the fourth quarter. Raymond James & Associates now owns 60,557 shares of the company’s stock valued at $24,759,000 after purchasing an additional 7,510 shares during the period. Nordea Investment Management AB raised its stake in MongoDB by 298.2% during the 4th quarter. Nordea Investment Management AB now owns 18,657 shares of the company’s stock valued at $7,735,000 after purchasing an additional 13,972 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in MongoDB by 9.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,903 shares of the company’s stock valued at $658,000 after purchasing an additional 168 shares during the period. Assenagon Asset Management S.A. raised its stake in MongoDB by 1,196.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 29,215 shares of the company’s stock valued at $11,945,000 after purchasing an additional 26,961 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in MongoDB during the 3rd quarter valued at $902,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.