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

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDB. Barclays reduced their price target on shares of MongoDB from $458.00 to $290.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. Wells Fargo & Company raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Loop Capital decreased their target price on MongoDB from $415.00 to $315.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Morgan Stanley increased their price target on MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Canaccord Genuity Group cut their price target on MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $337.56.

Insider Buying and Selling at MongoDB

In related news, Director John Dennis Mcmahon sold 10,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $228.00, for a total value of $2,280,000.00. Following the sale, the director now directly owns 20,020 shares of the company’s stock, valued at $4,564,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Thomas Bull sold 138 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $36,610.02. Following the completion of the sale, the chief accounting officer now directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dennis Mcmahon sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $228.00, for a total value of $2,280,000.00. Following the sale, the director now directly owns 20,020 shares in the company, valued at $4,564,560. The disclosure for this sale can be found here. Insiders have sold a total of 32,005 shares of company stock valued at $8,082,746 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in shares of MongoDB in the 4th quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in MongoDB during the second quarter valued at approximately $25,000. J.Safra Asset Management Corp boosted its holdings in MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares in the last quarter. Quarry LP grew its position in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of MongoDB in the second quarter valued at $35,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Up 1.3 %

MongoDB stock opened at $283.86 on Friday. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of -101.02 and a beta of 1.15. The company’s 50-day moving average price is $258.55 and its two-hundred day moving average price is $299.79. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same period last year, the firm posted ($0.63) earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. On average, analysts expect that MongoDB will post -2.46 EPS for the current fiscal year.

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.