Investors Purchase Large Volume of Put Options on MongoDB (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 23,831 put options on the stock. This is an increase of approximately 2,157% compared to the typical daily volume of 1,056 put options.

MongoDB Stock Up 3.3 %

MongoDB stock opened at $261.69 on Thursday. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a market cap of $19.20 billion, a PE ratio of -93.13 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93. The business’s 50-day simple moving average is $244.29 and its two-hundred day simple moving average is $325.52.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The firm had revenue of $450.56 million for the quarter, compared to analyst estimates of $438.44 million. Equities analysts anticipate that MongoDB will post -2.67 EPS for the current year.

Wall Street Analysts Forecast Growth

MDB has been the topic of several research reports. Guggenheim upgraded MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, June 3rd. Oppenheimer lowered their price objective on shares of MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Wells Fargo & Company cut their target price on shares of MongoDB from $450.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. Robert W. Baird reduced their price target on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Finally, JMP Securities cut their price objective on shares of MongoDB from $440.00 to $380.00 and set a “market outperform” rating on the stock in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $355.74.

Insider Activity

In related news, CRO Cedric Pech sold 273 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $72,424.17. Following the sale, the executive now directly owns 35,719 shares of the company’s stock, valued at approximately $9,475,893.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Cedric Pech sold 273 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the completion of the sale, the executive now directly owns 35,719 shares of the company’s stock, valued at $9,475,893.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the transaction, the chief accounting officer now owns 17,222 shares in the company, valued at $4,568,824.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,179 shares of company stock valued at $7,368,989. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in MongoDB by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock worth $2,478,475,000 after purchasing an additional 68,348 shares in the last quarter. Jennison Associates LLC boosted its holdings in MongoDB by 14.3% during the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after buying an additional 551,567 shares in the last quarter. Norges Bank acquired a new stake in MongoDB during the fourth quarter valued at $326,237,000. Swedbank AB increased its holdings in MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its position in shares of MongoDB by 22.4% in the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock worth $197,497,000 after acquiring an additional 100,725 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.