Stock Traders Purchase High Volume of MongoDB Put Options (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading activity on Wednesday. Traders bought 23,831 put options on the stock. This is an increase of approximately 2,157% compared to the average volume of 1,056 put options.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $269.57, for a total transaction of $808,710.00. Following the transaction, the director now owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,156 shares of company stock valued at $8,955,473 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently added to or reduced their stakes in MDB. Hilltop National Bank grew its holdings in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Quarry LP boosted its position in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the period. Brooklyn Investment Group bought a new stake in MongoDB in the 3rd quarter worth $36,000. Continuum Advisory LLC grew its holdings in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Trading Up 1.1 %

MDB opened at $260.70 on Thursday. The stock has a market capitalization of $19.41 billion, a P/E ratio of -95.15 and a beta of 1.25. The stock has a 50-day moving average price of $276.80 and a 200-day moving average price of $269.05. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, equities research analysts predict that MongoDB will post -1.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MDB. Mizuho increased their price objective on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Macquarie started coverage on MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 price target for the company. Wedbush raised MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Cantor Fitzgerald began coverage on shares of MongoDB in a report on Friday, January 17th. They set an “overweight” rating and a $344.00 price objective on the stock. Finally, Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $361.00.

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.