Investors Buy Large Volume of MongoDB Put Options (NASDAQ:MDB)

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

MongoDB Trading Up 3.8 %

Shares of MDB opened at $264.13 on Thursday. MongoDB has a 1-year low of $212.74 and a 1-year high of $424.00. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of -96.40 and a beta of 1.30. The firm’s 50-day moving average price is $263.70 and its 200-day moving average price is $275.28.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (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 company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same period last year, the company posted $0.96 EPS. MongoDB’s revenue was up 22.3% on a year-over-year basis. On average, research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity

In related news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cedric Pech sold 287 shares of the company’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 $67,183.83. Following the sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,314 shares of company stock valued at $13,337,753 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in MongoDB during the 4th quarter valued at about $13,270,000. Azzad Asset Management Inc. ADV raised its holdings in MongoDB by 17.7% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock worth $1,750,000 after buying an additional 1,132 shares during the last quarter. Infinitum Asset Management LLC purchased a new position in MongoDB in the fourth quarter worth about $8,148,000. Polar Asset Management Partners Inc. purchased a new position in MongoDB in the fourth quarter worth about $14,458,000. Finally, Mackenzie Financial Corp raised its holdings in MongoDB by 47.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,731 shares of the company’s stock worth $1,334,000 after buying an additional 1,854 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of research analyst reports. Needham & Company LLC increased their price target on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. DA Davidson increased their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt raised shares of MongoDB from a “sell” rating to a “neutral” rating in a report on Monday. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up previously from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $361.83.

MongoDB Company Profile

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.