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

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

Analysts Set New Price Targets

MDB has been the topic of a number of recent research reports. Wells Fargo & Company lowered MongoDB from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Loop Capital decreased their price target on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Bank of America cut their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Tigress Financial upped their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley cut their price target on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.84.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $265.00, for a total value of $265,000.00. Following the transaction, the director now owns 1,116,006 shares in the company, valued at approximately $295,741,590. This represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,857 shares of company stock valued at $9,613,306 in the last ninety days. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in MongoDB during the fourth quarter valued at approximately $29,000. Hilltop National Bank grew its holdings in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. NCP Inc. bought a new position in shares of MongoDB during the 4th quarter valued at $35,000. Continuum Advisory LLC lifted its stake in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after buying an additional 165 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Price Performance

MDB stock opened at $180.19 on Thursday. The firm has a 50 day simple moving average of $240.77 and a two-hundred day simple moving average of $263.72. The stock has a market cap of $14.63 billion, a PE ratio of -65.76 and a beta of 1.30. MongoDB has a one year low of $170.66 and a one year high of $387.19.

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