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

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Citigroup cut their target price on MongoDB from $430.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Royal Bank of Canada cut their price target on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. KeyCorp cut MongoDB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Bank of America dropped their price target on MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $303.97.

MongoDB Trading Up 0.9 %

Shares of MongoDB stock opened at $160.04 on Thursday. MongoDB has a 12 month low of $140.78 and a 12 month high of $387.19. The firm has a market capitalization of $12.99 billion, a P/E ratio of -58.41 and a beta of 1.49. The business has a fifty day simple moving average of $213.23 and a two-hundred day simple moving average of $253.88.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 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 business had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the previous year, the firm earned $0.86 EPS. Analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the transaction, the chief executive officer now directly owns 268,948 shares of the company’s stock, valued at $46,597,930.48. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas Bull sold 301 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,015 shares of company stock valued at $13,208,285 in the last quarter. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several large investors have recently modified their holdings of the stock. B.O.S.S. Retirement Advisors LLC bought a new position in shares of MongoDB in the fourth quarter worth approximately $606,000. Union Bancaire Privee UBP SA bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $3,515,000. HighTower Advisors LLC raised its holdings in MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after acquiring an additional 372 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in MongoDB by 428.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock valued at $1,340,000 after acquiring an additional 4,665 shares in the last quarter. Finally, Covea Finance purchased a new stake in shares of MongoDB during the fourth quarter valued at $3,841,000. Hedge funds and other 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.