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

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading on Wednesday. Stock investors purchased 23,831 put options on the company. This is an increase of 2,157% compared to the typical volume of 1,056 put options.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDB. The Goldman Sachs Group boosted their target price on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays upped their target price on shares of MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Mizuho lifted their price target on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Loop Capital increased their price objective on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Oppenheimer lifted their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MongoDB 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 $243.00 on Thursday. The business has a 50-day moving average of $289.29 and a 200-day moving average of $268.01. The stock has a market capitalization of $18.10 billion, a price-to-earnings ratio of -88.69 and a beta of 1.17. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share 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 firm had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same period last year, the company earned $0.96 earnings per share. The business’s revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts expect that MongoDB will post -1.86 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, CFO Michael Lawrence Gordon sold 1,884 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $482,775.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at $20,578,668.75. This trade represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Thomas Bull sold 154 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at approximately $4,117,425. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,775 shares of company stock valued at $9,264,812. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares during the last quarter. Taylor Frigon Capital Management LLC raised its stake in MongoDB by 0.4% in the second quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock valued at $2,475,000 after buying an additional 42 shares during the period. Tanager Wealth Management LLP lifted its position in shares of MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after buying an additional 43 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of MongoDB by 16.5% during the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after acquiring an additional 47 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its holdings in shares of MongoDB by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock worth $322,000 after acquiring an additional 59 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

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.