MongoDB Experiences Surge in Options Trading Volume

On a recent Wednesday, MongoDB, Inc. (NASDAQ:MDB) witnessed a spike in options trading, with traders acquiring 23,831 put options. This marked a significant deviation from the norm, showing a 2,157% increase over the average volume of 1,056 put options.

Wall Street Analysts Forecast Growth

MongoDB has been a subject of interest among various research analysts. Stifel Nicolaus maintained a 'buy' rating with a price target of $450.00. Capital One Financial upgraded the stock to an 'overweight' rating, setting a price target of $427.00. Citigroup raised their price target to $550.00 and affirmed a 'buy' rating. TheStreet upgraded MongoDB's rating from a 'd+' to a 'c-'. Barclays moved their price target up to $478.00, maintaining an 'overweight' rating. Despite one sell rating and four hold ratings, a consensus of 'Moderate Buy' is given by twenty buy ratings with an average price target of $439.86, according to MarketBeat.com.

Insiders Place Their Bets

Among the insiders, MongoDB's CFO Michael Lawrence Gordon sold 10,000 shares at an average price of $469.84, totaling $4,698,400. Post-sale, Gordon still holds 70,985 shares, valued at approximately $33,351,592.40. Additionally, Director Dwight A. Merriman sold 2,000 shares at an average of $465.37, totaling $930,740 and now owns 1,166,784 shares valued around $542,986,270.08. In the past ninety days, insiders have sold 54,607 shares worth $23,116,062. Notably, corporate insiders own about 4.80% of MongoDB's stock.

Hedge Funds Weigh In On MongoDB

Hedge funds and institutional investors have recently adjusted their holdings in MongoDB. SageView Advisory Group LLC initiated a new position worth approximately $252,000. Alamar Capital Management LLC expanded its stake by 2.1%, now valued at $4,135,000. Royal London Asset Management Ltd. increased its share by 2.9%, worth $10,608,000. Transcendent Capital Group LLC entered a new position valued at about $25,000, while American International Group Inc. raised its stake by 433.3%, now holding shares worth $2,490,000. Overall, institutional investors and hedge funds own 88.89% of the company's stock.

MongoDB Stock Up 1.1%

The stock of MongoDB opened at $409.50 on Thursday. The company has a quick ratio and current ratio of 4.74, with a debt-to-equity ratio of 1.18. MongoDB has seen a fifty-two week low of $189.59 and a high of $509.62. The 50-day and 200-day simple moving averages sit at $423.53 and $391.27, respectively. The firm’s market cap is approximately $29.56 billion, with a price-to-earnings ratio of -155.11 and a beta of 1.24.

The last earnings report from MongoDB showcased a quarter-over-quarter revenue increase of 29.8%, with earnings per share of $0.96, surpassing the expected $0.51. While the firm possesses a negative net margin of 11.70% and a negative return on equity of 20.64%, analysts predict MongoDB will post an earnings per share of -1.63 for the current year.

About MongoDB

MongoDB, Inc offers a versatile database platform on a global scale. It provides MongoDB Atlas, a cloud-based database service; MongoDB Enterprise Advanced for enterprise customers; and a free Community Server version. MongoDB's products are suited for a varied range of applications.

MongoDB, trading, options