Investors Buy High Volume of MongoDB Put Options (NASDAQ:MDB)

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

MongoDB Trading Up 1.1 %

Shares of MDB opened at $260.70 on Thursday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The business’s fifty day simple moving average is $276.80 and its two-hundred day simple moving average is $269.05. The company has a market cap of $19.41 billion, a price-to-earnings ratio of -95.15 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data 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. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. As a group, research analysts forecast that MongoDB will post -1.79 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Cantor Fitzgerald started coverage on MongoDB in a research report on Friday, January 17th. They issued an “overweight” rating and a $344.00 price objective on the stock. Monness Crespi & Hardt downgraded MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price for the company. in a report on Monday, December 16th. Stifel Nicolaus lifted their price target on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company upped their price objective on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $361.00.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares in the company, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the transaction, the director now owns 1,127,006 shares in the company, valued at $303,807,007.42. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,156 shares of company stock worth $8,955,473 over the last ninety days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently made changes to their positions in the business. Perigon Wealth Management LLC boosted its stake in shares of MongoDB by 2.7% during the 4th quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock worth $627,000 after acquiring an additional 66 shares during the last quarter. Slow Capital Inc. raised its holdings in MongoDB by 4.2% in the 4th quarter. Slow Capital Inc. now owns 18,134 shares of the company’s stock worth $4,222,000 after purchasing an additional 735 shares during the period. Pacer Advisors Inc. raised its holdings in MongoDB by 12.6% in the 4th quarter. Pacer Advisors Inc. now owns 5,504 shares of the company’s stock worth $1,281,000 after purchasing an additional 615 shares during the period. KBC Group NV grew its holdings in MongoDB by 5.2% during the fourth quarter. KBC Group NV now owns 18,079 shares of the company’s stock valued at $4,209,000 after purchasing an additional 890 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in MongoDB in the fourth quarter worth about $3,515,000. Institutional investors own 89.29% of the company’s stock.

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.