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

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

Analyst Upgrades and Downgrades

MDB has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Loop Capital increased their target price on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Monness Crespi & Hardt lowered shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target for the company. in a research report on Monday, December 16th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average price target of $366.14.

MongoDB Stock Up 0.2 %

Shares of MDB opened at $243.50 on Friday. The firm has a fifty day simple moving average of $288.58 and a two-hundred day simple moving average of $267.84. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62. The stock has a market capitalization of $18.13 billion, a P/E ratio of -88.87 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last posted 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. 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 for the quarter, compared to analysts’ expectations of $497.39 million. During the same period last year, the firm earned $0.96 earnings per share. MongoDB’s quarterly revenue was up 22.3% on a year-over-year basis. Sell-side analysts expect that MongoDB will post -1.86 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 154 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the sale, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hope F. Cochran sold 1,175 shares of MongoDB stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $266.99, for a total value of $313,713.25. Following the completion of the transaction, the director now owns 17,570 shares of the company’s stock, valued at approximately $4,691,014.30. This trade represents a 6.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,775 shares of company stock worth $9,264,812. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP increased 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 purchasing an additional 129 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of MongoDB during the second quarter valued at about $35,000. Brooklyn Investment Group bought a new position in MongoDB in the third quarter worth about $36,000. GAMMA Investing LLC lifted its holdings in MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after buying an additional 93 shares during the period. Finally, Continuum Advisory LLC boosted its position in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

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.