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

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

MongoDB Trading Up 1.1 %

Shares of MDB stock opened at $248.68 on Thursday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The stock has a market capitalization of $18.52 billion, a P/E ratio of -90.76 and a beta of 1.25. The firm’s 50 day moving average is $283.52 and its 200 day moving average is $269.30.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on MDB. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Monday. Royal Bank of Canada upped their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Loop Capital raised their price objective on MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group upped their target price on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their target price on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” 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-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $367.14.

Insider Activity at MongoDB

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

Institutional Investors Weigh In On MongoDB

Several large investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP purchased a new position in shares of MongoDB during the 3rd quarter valued at about $1,045,000. Geode Capital Management LLC boosted its position in MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after buying an additional 34,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of MongoDB during the third quarter valued at about $4,366,000. Charles Schwab Investment Management Inc. boosted its holdings in MongoDB by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after acquiring an additional 7,575 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of MongoDB during the second quarter valued at approximately $1,860,000. 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.