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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders purchased 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MDB shares. Guggenheim upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Monday, January 6th. Oppenheimer lowered their price objective on MongoDB from $400.00 to $330.00 and set an "outperform" rating on the stock in a research report on Thursday. Bank of America reduced their target price on MongoDB from $420.00 to $286.00 and set a "buy" rating on the stock in a research note on Thursday. Macquarie reduced their target price on MongoDB from $300.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Barclays reduced their target price on MongoDB from $330.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and an average target price of $319.87.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the sale, the director now owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,314 shares of company stock worth $13,337,753 over the last 90 days. Corporate insiders own 3.60% of the company's stock.

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Hedge Funds Weigh In On MongoDB

Several large investors have recently made changes to their positions in MDB. Nisa Investment Advisors LLC lifted its holdings in shares of MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company's stock valued at $295,000 after purchasing an additional 40 shares during the last quarter. US Bancorp DE lifted its holdings in shares of MongoDB by 9.1% during the third quarter. US Bancorp DE now owns 3,869 shares of the company's stock valued at $1,046,000 after purchasing an additional 324 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of MongoDB during the third quarter valued at approximately $861,000. Principal Financial Group Inc. lifted its holdings in shares of MongoDB by 2.7% during the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company's stock valued at $1,648,000 after purchasing an additional 160 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of MongoDB by 6.6% during the third quarter. Atria Investments Inc now owns 2,175 shares of the company's stock valued at $588,000 after purchasing an additional 135 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Price Performance

MDB traded down $5.33 on Friday, hitting $187.65. The company had a trading volume of 5,777,748 shares, compared to its average volume of 1,644,879. MongoDB has a 52-week low of $181.05 and a 52-week high of $387.19. The stock has a fifty day simple moving average of $261.68 and a 200-day simple moving average of $274.38. The firm has a market capitalization of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to analysts' expectations of $519.65 million. During the same quarter last year, the business earned $0.86 earnings per share. Equities research analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

About MongoDB

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.