MongoDB, Inc. (NASDAQ:MDB – Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 23,831 put options on the company. This is an increase of approximately 2,157% compared to the average daily volume of 1,056 put options.

MongoDB Trading Down 1.4 %

Shares of MDB opened at $172.17 on Thursday. The stock has a market cap of $13.98 billion, a PE ratio of -62.84 and a beta of 1.49. MongoDB has a 1 year low of $140.78 and a 1 year high of $387.19. The stock has a 50 day simple moving average of $188.41 and a 200-day simple moving average of $246.79.

MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter last year, the company earned $0.86 earnings per share. On average, sell-side analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the sale, the chief executive officer now directly owns 268,948 shares of the company’s stock, valued at $46,597,930.48. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the transaction, the chief financial officer now owns 6,406 shares in the company, valued at $1,109,903.56. This represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,345 shares of company stock valued at $8,485,310. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after buying an additional 23,942 shares during the last quarter. Franklin Resources Inc. grew its position in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after acquiring an additional 181,962 shares during the last quarter. Geode Capital Management LLC increased its holdings in MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares in the last quarter. First Trust Advisors LP raised its position in MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after purchasing an additional 95,893 shares during the last quarter. Finally, Norges Bank acquired a new position in MongoDB in the fourth quarter worth $189,584,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Bank of America dropped their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Piper Sandler lowered their target price on shares of MongoDB from $280.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. China Renaissance began coverage on shares of MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Finally, Royal Bank of Canada lowered their price target on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $294.78.

Check Out Our Latest Stock Analysis on MDB

About MongoDB

(Get Free Report)

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.

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