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

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on MDB shares. Morgan Stanley increased their price objective on shares of MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Bank of America raised their price target on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Scotiabank raised their price target on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Wells Fargo & Company raised their price target on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, JMP Securities reissued a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $340.29.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $324.60 on Thursday. The company’s fifty day moving average price is $281.84 and its 200 day moving average price is $271.65. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The firm has a market capitalization of $23.98 billion, a P/E ratio of -107.48 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The business had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.63) EPS. As a group, sell-side analysts predict that MongoDB will post -2.39 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the sale, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at $4,589,041.58. This represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Cedric Pech sold 302 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the transaction, the executive now directly owns 33,440 shares of the company’s stock, valued at $8,569,000. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,600 shares of company stock valued at $7,732,589 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MFA Wealth Advisors LLC purchased a new stake in shares of MongoDB during the second quarter worth approximately $25,000. J.Safra Asset Management Corp increased its stake in MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares during the period. Quarry LP raised its position in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of MongoDB in the 2nd quarter worth $35,000. Finally, Brooklyn Investment Group purchased a new stake in shares of MongoDB in the third quarter valued at about $36,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.