MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of some unusual options trading activity on Wednesday. Stock investors acquired 36,130 call options on the company. This is an increase of approximately 2,077% compared to the typical volume of 1,660 call options.

Wall Street Analyst Weigh In

Several brokerages have commented on MDB. Oppenheimer upped their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. KeyCorp increased their target price on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho raised their target price on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein lifted their price objective on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $366.14.

MongoDB Stock Performance

NASDAQ MDB opened at $243.50 on Friday. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The stock’s 50 day moving average price is $288.58 and its two-hundred day moving average price is $267.84. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of -88.87 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. On average, equities research analysts forecast that MongoDB will post -1.86 EPS for the current year.

Insider Activity at MongoDB

In related news, CRO Cedric Pech sold 302 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares in the company, valued at $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,775 shares of company stock valued at $9,264,812 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently modified their holdings of MDB. Quarry LP grew its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in MongoDB in the second quarter valued at $35,000. Brooklyn Investment Group bought a new position in shares of MongoDB in the 3rd quarter valued at about $36,000. GAMMA Investing LLC increased its stake in shares of MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 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.