MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 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.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the transaction, the director directly owned 80,462 shares of the company’s stock, valued at $29,750,824.50. The trade was a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the transaction, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MDB. Clark Financial Services Group Inc. BD boosted its position in shares of MongoDB by 1.5% in the fourth quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company’s stock worth $702,000 after purchasing an additional 25 shares during the period. Root Financial Partners LLC boosted its position in shares of 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 during the period. True Wealth Design LLC boosted its position in shares of MongoDB by 9.4% in 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 period. HighPoint Advisor Group LLC boosted 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 worth $626,000 after acquiring an additional 36 shares during the period. Finally, Lido Advisors LLC boosted 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 worth $458,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Trading Up 4.5%

MDB opened at $244.06 on Thursday. The company’s fifty day moving average price is $286.56 and its two-hundred day moving average price is $342.31. MongoDB has a 1-year low of $148.88 and a 1-year high of $444.72. The company has a market cap of $19.62 billion, a price-to-earnings ratio of -277.34 and a beta of 1.60.

MongoDB (NASDAQ:MDB) last released 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. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s revenue was up 26.8% on a year-over-year basis. As a group, equities analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MDB shares. Piper Sandler reduced their price target on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. The Goldman Sachs Group reduced their price target on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Monness Crespi & Hardt reduced their price target on shares of MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. BMO Capital Markets restated an “outperform” rating and issued a $340.00 price target (down from $400.00) on shares of MongoDB in a report on Tuesday, March 3rd. Finally, Sanford C. Bernstein downgraded MongoDB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 3rd. Twenty-seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $360.03.

About MongoDB

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.