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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 23,831 put options on the stock. This is an increase of approximately 2,157% compared to the typical daily volume of 1,056 put options.

MongoDB Stock Down 1.7 %

Shares of NASDAQ:MDB opened at $290.00 on Friday. MongoDB has a 52 week low of $212.74 and a 52 week high of $459.70. The company has a 50-day moving average price of $261.59 and a 200 day moving average price of $273.25. The company has a market cap of $21.60 billion, a P/E ratio of -105.84 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same period last year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. Analysts expect that MongoDB will post -1.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MDB shares. Morgan Stanley lifted their price objective on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Stifel Nicolaus lifted their target price on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group increased their price target on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. KeyCorp lifted their price objective on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Insider Activity

In other news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $349.17, for a total value of $698,340.00. Following the transaction, the director now directly owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. This represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,979 shares of company stock valued at $11,963,757. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently made changes to their positions in MDB. Mackenzie Financial Corp lifted its stake in shares of MongoDB by 47.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,731 shares of the company’s stock valued at $1,334,000 after purchasing an additional 1,854 shares during the period. Toronto Dominion Bank increased its holdings in MongoDB by 10.8% in the fourth quarter. Toronto Dominion Bank now owns 10,484 shares of the company’s stock valued at $2,441,000 after buying an additional 1,022 shares in the last quarter. Warm Springs Advisors Inc. purchased a new stake in shares of MongoDB during the 4th quarter worth approximately $1,691,000. Cache Advisors LLC acquired a new stake in shares of MongoDB in the 4th quarter worth approximately $233,000. Finally, GF Fund Management CO. LTD. acquired a new stake in MongoDB in the fourth quarter valued at $3,259,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.