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

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading on Wednesday. Investors acquired 23,831 put options on the company. This represents an increase of 2,157% compared to the typical daily volume of 1,056 put options.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $323.00, for a total value of $969,000.00. Following the completion of the transaction, the director now directly owns 1,121,006 shares in the company, valued at approximately $362,084,938. This represents a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,094 shares of company stock worth $11,705,293 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in MDB. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB during the 4th quarter valued at $29,000. Hilltop National Bank boosted its stake in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. NCP Inc. purchased a new position in shares of MongoDB in the 4th quarter worth $35,000. Brooklyn Investment Group purchased a new position in shares of MongoDB in the 3rd quarter worth $36,000. Finally, Continuum Advisory LLC boosted its stake in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MDB shares. Citigroup increased their target price on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Oppenheimer increased their target price on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a report on Wednesday, December 11th. Stifel Nicolaus increased their target price on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Mizuho increased their target price on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $361.00.

MongoDB Stock Down 1.2 %

MDB stock opened at $295.00 on Thursday. MongoDB has a twelve month low of $212.74 and a twelve month high of $459.78. The firm has a market cap of $21.97 billion, a PE ratio of -107.66 and a beta of 1.28. The business has a 50 day moving average of $261.56 and a 200 day moving average of $273.13.

MongoDB (NASDAQ:MDB) last posted 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. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same quarter last year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, research analysts expect that MongoDB will post -1.78 earnings per share 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.