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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading on Wednesday. Investors bought 23,831 put options on the stock. This is an increase of approximately 2,157% compared to the average volume of 1,056 put options.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 1,319 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $285.92, for a total transaction of $377,128.48. Following the completion of the sale, the director now directly owns 87,744 shares of the company’s stock, valued at $25,087,764.48. This represents a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,491 shares of company stock valued at $11,543,480 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in MDB. Hilltop National Bank grew its stake in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. NCP Inc. bought a new stake in MongoDB in the 4th quarter worth approximately $35,000. Brooklyn Investment Group purchased a new stake in MongoDB during the 3rd quarter valued at $36,000. GAMMA Investing LLC lifted its holdings in shares of MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares during the period. Finally, Continuum Advisory LLC grew its holdings in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Price Performance

Shares of MongoDB stock opened at $282.03 on Thursday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a 50-day moving average of $268.90 and a 200 day moving average of $270.32. The firm has a market cap of $21.00 billion, a price-to-earnings ratio of -102.93 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, equities analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MDB shares. KeyCorp upped their price target on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Tigress Financial raised their target price on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, January 6th. Needham & Company LLC increased their price objective on MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group boosted their target price on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

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.