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

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Tigress Financial increased their price target on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Citigroup reissued a “buy” rating on shares of MongoDB in a research note on Thursday, March 6th. Robert W. Baird reduced their target price on MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays lowered their price target on MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $320.70.

Insider Buying and Selling

In related news, insider Cedric Pech sold 287 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 1,245 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $291,442.05. Following the completion of the transaction, the chief financial officer now directly owns 79,062 shares in the company, valued at $18,507,623.58. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,139 shares of company stock worth $11,328,869. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently bought and sold shares of MDB. 111 Capital acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $390,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in MongoDB during the 4th quarter worth $5,769,000. Centaurus Financial Inc. grew its position in MongoDB by 19.0% during the 4th quarter. Centaurus Financial Inc. now owns 2,499 shares of the company’s stock worth $582,000 after purchasing an additional 399 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in MongoDB in the fourth quarter valued at $13,270,000. Finally, Azzad Asset Management Inc. ADV raised its holdings in shares of MongoDB by 17.7% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock valued at $1,750,000 after buying an additional 1,132 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $189.30 on Friday. MongoDB has a 1 year low of $173.13 and a 1 year high of $387.19. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of -69.09 and a beta of 1.30. The business has a 50-day moving average of $252.02 and a two-hundred day moving average of $270.33.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, equities research analysts expect that MongoDB will post -1.78 earnings per share for the current 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.