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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 36,130 call options on the company. This represents an increase of approximately 2,077% compared to the typical daily volume of 1,660 call options.

MongoDB Stock Down 1.4%

Shares of MDB stock opened at $268.52 on Thursday. The company has a market capitalization of $21.85 billion, a P/E ratio of -305.14 and a beta of 1.40. MongoDB has a 12-month low of $140.78 and a 12-month high of $444.72. The firm has a 50-day moving average price of $344.29 and a 200 day moving average price of $352.85.

MongoDB (NASDAQ:MDB) last issued 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. The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. As a group, research analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on MDB shares. Zacks Research lowered shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Wall Street Zen raised MongoDB from a “hold” rating to a “buy” rating in a report on Sunday. Monness Crespi & Hardt lowered their price objective on MongoDB from $475.00 to $370.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Needham & Company LLC dropped 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, Royal Bank Of Canada cut their target price on MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.18.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 1,190 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the transaction, the director owned 80,462 shares in the company, valued at approximately $29,750,824.50. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 19,383 shares of company stock valued at $7,910,983. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently bought and sold shares of MDB. Clark Financial Services Group Inc. BD raised its position in MongoDB by 1.5% in the 4th quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company’s stock valued at $702,000 after purchasing an additional 25 shares during the last quarter. Root Financial Partners LLC boosted its stake in MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after purchasing an additional 32 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of MongoDB by 9.4% during the fourth quarter. True Wealth Design LLC now owns 419 shares of the company’s stock worth $176,000 after purchasing an additional 36 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in shares of MongoDB by 2.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock valued at $626,000 after buying an additional 36 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in shares of MongoDB by 3.4% in the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock valued at $458,000 after buying an additional 36 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Company Profile

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.