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

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

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 1,385 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $287.82, for a total value of $398,630.70. Following the sale, the director now directly owns 89,063 shares in the company, valued at approximately $25,634,112.66. This represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares in the company, valued at approximately $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,161 shares of company stock worth $8,427,806 over the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of large investors have recently made changes to their positions in the company. Quarry LP increased its holdings in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares in the last quarter. Brooklyn Investment Group bought a new position in MongoDB during the 3rd quarter worth about $36,000. GAMMA Investing LLC increased its holdings in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares in the last quarter. Continuum Advisory LLC increased its holdings in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. Finally, Asset Dedication LLC bought a new position in MongoDB during the 2nd quarter worth about $41,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Up 1.1 %

MDB opened at $248.68 on Friday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a fifty day simple moving average of $282.39 and a 200 day simple moving average of $269.01. The stock has a market cap of $18.52 billion, a P/E ratio of -90.76 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the prior year, the company earned $0.96 EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. On average, equities research analysts expect that MongoDB will post -1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Scotiabank boosted their target price on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a report on Wednesday, December 11th. Oppenheimer boosted their target price on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Truist Financial reissued a “buy” rating and issued a $400.00 target price (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $367.14.

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.