MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

Posted by Defense World Staff on Apr 6th, 2023

MongoDB, Inc. (NASDAQ:MDB – Get Rating) was the recipient of some unusual options trading on Wednesday. Investors bought 36,130 call options on the company. This is an increase of 2,077% compared to the average volume of 1,660 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MDB shares. Oppenheimer lowered their price target on MongoDB from $320.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, March 9th. Citigroup lowered their price target on MongoDB from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, March 7th. Needham & Company LLC increased their price target on MongoDB from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. Morgan Stanley increased their price target on MongoDB from $215.00 to $230.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 7th. Finally, Robert W. Baird increased their price target on MongoDB from $205.00 to $230.00 in a research report on Wednesday, December 7th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.87.

Insider Activity

In related news, CRO Cedric Pech sold 720 shares of MongoDB stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $228.33, for a total value of $164,397.60. Following the transaction, the executive now directly owns 53,050 shares of the company’s stock, valued at $12,112,906.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other MongoDB news, CRO Cedric Pech sold 720 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $228.33, for a total transaction of $164,397.60. Following the transaction, the executive now directly owns 53,050 shares in the company, valued at approximately $12,112,906.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Lawrence Gordon sold 5,157 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $228.36, for a total value of $1,177,652.52. Following the transaction, the chief financial officer now owns 103,706 shares in the company, valued at $23,682,302.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,901 shares of company stock valued at $24,616,177. 5.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. boosted its stake in MongoDB by 3,283,771.0% during the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock valued at $200,383,000 after buying an additional 1,017,969 shares during the last quarter. Renaissance Technologies LLC boosted its stake in MongoDB by 493.2% during the fourth quarter. Renaissance Technologies LLC now owns 918,200 shares of the company’s stock valued at $180,738,000 after buying an additional 763,400 shares during the last quarter. Norges Bank bought a new position in MongoDB during the fourth quarter valued at approximately $147,735,000. William Blair Investment Management LLC boosted its stake in MongoDB by 2,354.2% during the fourth quarter. William Blair Investment Management LLC now owns 387,366 shares of the company’s stock valued at $76,249,000 after buying an additional 371,582 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in MongoDB by 87.4% during the third quarter. Marshall Wace LLP now owns 696,998 shares of the company’s stock valued at $138,396,000 after buying an additional 325,136 shares during the last quarter. Institutional investors own 84.86% of the company’s stock.

MongoDB Stock Performance

NASDAQ MDB opened at $213.09 on Thursday. The firm has a market cap of $14.92 billion, a price-to-earnings 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 business has a 50-day moving average price of $216.84 and a 200-day moving average price of $194.88. MongoDB has a twelve month low of $135.15 and a twelve month high of $438.94.

MongoDB (NASDAQ:MDB – Get Rating) last released its quarterly earnings data on Wednesday, March 8th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.20. The firm had revenue of $361.31 million during the quarter, compared to analyst estimates of $335.84 million. MongoDB had a negative return on equity of 48.38% and a negative net margin of 26.90%. As a group, equities research analysts predict that MongoDB will post -4.04 EPS 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.