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

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Mizuho boosted their target price on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Sanford C. Bernstein boosted their target price on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Bank of America upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Scotiabank boosted their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.96.

MongoDB Stock Performance

MDB stock opened at $271.87 on Friday. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The business’s fifty day simple moving average is $269.54 and its two-hundred day simple moving average is $285.99. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of -96.75 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same quarter last year, the firm posted ($0.63) earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts predict that MongoDB will post -2.44 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now directly owns 1,140,006 shares of the company’s stock, valued at approximately $263,341,386. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total value of $462,000.00. Following the transaction, the director now directly owns 1,140,006 shares of the company’s stock, valued at $263,341,386. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the completion of the transaction, the director now directly owns 1,135,006 shares in the company, valued at approximately $330,048,394.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,281 shares of company stock valued at $6,310,411 over the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC acquired a new stake in MongoDB in the second quarter worth about $25,000. J.Safra Asset Management Corp raised its stake in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares during the period. Quarry LP raised its stake in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the period. Hantz Financial Services Inc. acquired a new position in MongoDB in the 2nd quarter valued at $35,000. Finally, GAMMA Investing LLC raised its stake in MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the last quarter. 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.