Traders Buy Large Volume of Put Options on MongoDB (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 23,831 put options on the company. This represents an increase of 2,157% compared to the typical daily volume of 1,056 put options.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MDB shares. DA Davidson increased their target price 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. Rosenblatt Securities initiated coverage on MongoDB in a research report on Tuesday, December 17th. They set a “buy” rating and a $350.00 price target on the stock. Citigroup lifted their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Barclays upped their target price on MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Robert W. Baird raised their price target on MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $366.14.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $243.50 on Friday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The stock has a market capitalization of $18.13 billion, a P/E ratio of -88.87 and a beta of 1.17. The company has a 50-day moving average price of $288.58 and a 200-day moving average price of $267.84.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, equities research analysts anticipate that MongoDB will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the sale, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,775 shares of company stock worth $9,264,812. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. Jennison Associates LLC grew its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the period. Geode Capital Management LLC boosted its stake in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after acquiring an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after purchasing an additional 388,979 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after purchasing an additional 66,730 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.