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

MongoDB, Inc. (NASDAQ:MDBGet Rating) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 23,831 put options on the stock. This represents an increase of approximately 2,157% compared to the average volume of 1,056 put options.

A number of research analysts recently weighed in on MDB shares. Canaccord Genuity Group cut their target price on shares of MongoDB from $560.00 to $400.00 in a report on Wednesday, March 9th. Royal Bank of Canada started coverage on shares of MongoDB in a research note on Tuesday, March 1st. They set an “outperform” rating and a $505.00 price objective for the company. Barclays lifted their price objective on shares of MongoDB from $330.00 to $338.00 in a research note on Thursday. Morgan Stanley dropped their price objective on shares of MongoDB from $475.00 to $378.00 and set an “overweight” rating for the company in a research note on Thursday, May 19th. Finally, Credit Suisse Group dropped their price objective on shares of MongoDB from $650.00 to $500.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $452.61.

In other news, CRO Cedric Pech sold 309 shares of MongoDB stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $443.77, for a total transaction of $137,124.93. Following the sale, the executive now owns 46,135 shares in the company, valued at $20,473,328.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 35,000 shares of MongoDB stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $309.78, for a total transaction of $10,842,300.00. The disclosure for this sale can be found here. Insiders sold a total of 122,809 shares of company stock worth $43,079,955 in the last quarter. Company insiders own 5.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MDB. Northern Trust Corp raised its stake in shares of MongoDB by 3.1% during the 4th quarter. Northern Trust Corp now owns 405,648 shares of the company’s stock worth $214,731,000 after buying an additional 12,223 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of MongoDB in the 4th quarter worth $200,000. TD Asset Management Inc. increased its stake in shares of MongoDB by 153.9% in the 4th quarter. TD Asset Management Inc. now owns 525,000 shares of the company’s stock worth $277,909,000 after acquiring an additional 318,259 shares during the last quarter. GraniteShares Advisors LLC acquired a new stake in shares of MongoDB in the 4th quarter worth $165,000. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in shares of MongoDB in the 4th quarter worth $675,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Shares of MDB stock opened at $241.81 on Thursday. The stock’s 50-day simple moving average is $343.10 and its 200-day simple moving average is $403.96. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of -51.01 and a beta of 1.01. MongoDB has a fifty-two week low of $213.39 and a fifty-two week high of $590.00. The company has a debt-to-equity ratio of 1.70, a quick ratio of 4.02 and a current ratio of 4.02.

MongoDB (NASDAQ:MDBGet Rating) last issued its earnings results on Wednesday, June 1st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($1.34) by $1.54. The firm had revenue of $285.45 million for the quarter, compared to analyst estimates of $267.10 million. MongoDB had a negative return on equity of 66.70% and a negative net margin of 35.12%. MongoDB’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.98) earnings per share. As a group, equities analysts forecast that MongoDB will post -5.48 earnings per share for the current year.

About MongoDB (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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