MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

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

Insider Activity at MongoDB

In other MongoDB news, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the sale, the insider now directly owns 57,634 shares of the company’s stock, valued at $9,985,666.84. This trade represents a 2.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,423 shares of company stock valued at $7,148,369. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maverick Capital Ltd. purchased a new stake in MongoDB in the first quarter valued at approximately $27,165,000. Alamar Capital Management LLC increased its holdings in shares of MongoDB by 38.1% in the first quarter. Alamar Capital Management LLC now owns 18,810 shares of the company’s stock valued at $3,299,000 after purchasing an additional 5,185 shares during the period. QVT Financial LP acquired a new position in shares of MongoDB in the first quarter valued at approximately $277,000. Point72 Europe London LLP acquired a new position in shares of MongoDB in the first quarter valued at approximately $5,656,000. Finally, Armistice Capital LLC acquired a new position in shares of MongoDB in the first quarter valued at approximately $7,887,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Trading Down 1.7%

Shares of NASDAQ MDB opened at $190.50 on Friday. MongoDB has a twelve month low of $140.78 and a twelve month high of $379.06. The stock has a 50 day moving average of $175.00 and a two-hundred day moving average of $239.84. The stock has a market cap of $15.47 billion, a P/E ratio of -69.53 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the prior year, the firm posted $0.86 EPS. As a group, research analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of recent analyst reports. Needham & Company LLC cut their price objective on MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $350.00 target price on shares of MongoDB in a research report on Tuesday, March 4th. Oppenheimer dropped their target price on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Barclays dropped their target price on MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Daiwa America raised MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $294.78.

MongoDB Company Profile

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