MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading activity on Wednesday. Investors bought 23,831 put options on the company. This represents an increase of 2,157% compared to the average daily volume of 1,056 put options.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Canaccord Genuity Group cut their price objective on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Robert W. Baird cut their price objective on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company downgraded shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Finally, Morgan Stanley cut their price target on shares of MongoDB from $315.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $294.78.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $190.50 on Friday. MongoDB has a 1 year low of $140.78 and a 1 year high of $379.06. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of -69.53 and a beta of 1.49. The business’s 50 day moving average price is $175.00 and its 200-day moving average price is $239.84.

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

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 885 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the transaction, the director now owns 83,845 shares in the company, valued at $24,486,932.25. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,423 shares of company stock worth $7,148,369. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB during the 4th quarter valued at approximately $29,000. Cloud Capital Management LLC purchased a new position in shares of MongoDB during the 1st quarter valued at approximately $25,000. NCP Inc. acquired a new position in MongoDB in the 4th quarter valued at $35,000. Hollencrest Capital Management acquired a new position in MongoDB in the 1st quarter valued at $26,000. Finally, Cullen Frost Bankers Inc. raised its stake in MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors 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.