MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders purchased 23,831 put options on the stock. This is an increase of approximately 2,157% compared to the average daily volume of 1,056 put options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MDB shares. Piper Sandler reduced their target price on MongoDB from $425.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Wedbush dropped their target price on shares of MongoDB from $360.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. DA Davidson increased their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Truist Financial lowered their price objective on MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Bank of America cut their price objective on MongoDB from $420.00 to $286.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus target price of $312.84.

Insider Transactions at MongoDB

In other news, insider Cedric Pech sold 1,690 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the sale, the insider now directly owns 57,634 shares in the company, valued at $9,985,666.84. This trade represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 18,512 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the transaction, the chief executive officer now owns 268,948 shares in the company, valued at approximately $46,597,930.48. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,060 shares of company stock valued at $13,461,875 over the last 90 days. Corporate insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MDB. OneDigital Investment Advisors LLC increased its stake in MongoDB by 3.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock worth $243,000 after purchasing an additional 39 shares in the last quarter. Hilltop National Bank raised its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after buying an additional 42 shares during the last quarter. Avestar Capital LLC increased its position in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock valued at $504,000 after purchasing an additional 42 shares during the period. Aigen Investment Management LP raised its stake in shares of MongoDB by 1.4% in the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock valued at $913,000 after buying an additional 55 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in shares of MongoDB by 2.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company's stock worth $627,000 after buying an additional 66 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded down $7.01 during trading on Monday, reaching $147.38. The company had a trading volume of 5,169,359 shares, compared to its average volume of 1,771,870. MongoDB has a twelve month low of $140.96 and a twelve month high of $387.19. The firm has a market capitalization of $11.97 billion, a PE ratio of -53.79 and a beta of 1.49. The firm's fifty day moving average is $236.68 and its 200 day moving average is $261.78.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the previous year, the business posted $0.86 earnings per share. Equities analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

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.