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

Posted by on Apr 6th, 2023

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wedbush decreased their target price on shares of MongoDB from $240.00 to $230.00 in a research report on Thursday, March 9th. Mizuho decreased their price objective on shares of MongoDB from $220.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, March 9th. Guggenheim began coverage on shares of MongoDB in a research report on Thursday, January 26th. They issued a “neutral” rating and a $205.00 price objective on the stock. Stifel Nicolaus decreased their price objective on shares of MongoDB from $256.00 to $240.00 in a research report on Thursday, February 23rd. Finally, Tigress Financial decreased their price objective on shares of MongoDB from $575.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, December 15th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.87.

Insider Buying and Selling at MongoDB

In other news, CEO Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $207.86, for a total transaction of $8,314,400.00. Following the sale, the chief executive officer now owns 190,264 shares in the company, valued at approximately $39,548,275.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Dwight A. Merriman sold 14,095 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $206.95, for a total transaction of $2,916,960.25. Following the sale, the director now owns 1,227,954 shares in the company, valued at approximately $254,125,080.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $207.86, for a total transaction of $8,314,400.00. Following the sale, the chief executive officer now owns 190,264 shares in the company, valued at approximately $39,548,275.04. The disclosure for this sale can be found here. Insiders sold a total of 112,901 shares of company stock valued at $24,616,177 in the last three months. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Cherry Creek Investment Advisors Inc. grew its holdings in MongoDB by 1.5% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 3,283 shares of the company’s stock worth $646,000 after acquiring an additional 50 shares in the last quarter. CWM LLC boosted its holdings in shares of MongoDB by 2.6% in the 3rd quarter. CWM LLC now owns 2,144 shares of the company’s stock valued at $426,000 after buying an additional 55 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of MongoDB by 12.9% in the 4th quarter. Allworth Financial LP now owns 508 shares of the company’s stock valued at $100,000 after buying an additional 58 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of MongoDB by 7.4% in the 2nd quarter. Cetera Advisor Networks LLC now owns 860 shares of the company’s stock valued at $223,000 after buying an additional 59 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its holdings in shares of MongoDB by 1.0% in the 4th quarter. First Republic Investment Management Inc. now owns 6,406 shares of the company’s stock valued at $1,261,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.

MongoDB Price Performance

MDB stock opened at $213.09 on Thursday. MongoDB has a 52 week low of $135.15 and a 52 week high of $438.94. The firm has a market capitalization of $14.92 billion, a P/E ratio of -42.28 and a beta of 1.07. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 1.54. The company has a fifty day simple moving average of $216.84 and a two-hundred day simple moving average of $194.88.

MongoDB (NASDAQ:MDB – Get Rating) last announced its earnings results on Wednesday, March 8th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.20. MongoDB had a negative net margin of 26.90% and a negative return on equity of 48.38%. The business had revenue of $361.31 million for the quarter, compared to the consensus estimate of $335.84 million. Analysts anticipate that MongoDB will post -4.04 earnings per share for the current fiscal year.

MongoDB Company Profile

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.

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