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

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading activity on Wednesday. Stock investors acquired 23,831 put options on the stock. This represents an increase of 2,157% compared to the average volume of 1,056 put options.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 8,000 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $236.89, for a total transaction of $1,895,120.00. Following the transaction, the director directly owned 1,005,316 shares in the company, valued at approximately $238,149,307.24. This represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the transaction, the director owned 24,093 shares in the company, valued at $6,007,107.69. The trade was a 6.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,566 shares of company stock worth $3,875,011 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently modified their holdings of MDB. Vanguard Group Inc. raised its stake in MongoDB by 5.0% during the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after purchasing an additional 431,382 shares during the period. ValueAct Holdings L.P. raised its stake in shares of MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after acquiring an additional 1,427,700 shares during the period. State Street Corp raised its stake in shares of MongoDB by 2.3% in the 4th quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after acquiring an additional 40,219 shares during the period. Amundi raised its stake in shares of MongoDB by 61.3% in the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after acquiring an additional 563,995 shares during the period. Finally, Geode Capital Management LLC grew its holdings in MongoDB by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after purchasing an additional 9,693 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MDB. Scotiabank upgraded shares of MongoDB from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $275.00 to $310.00 in a research report on Thursday, March 5th. Needham & Company LLC reduced their price target on shares of MongoDB from $500.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Wells Fargo & Company reduced their price target on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $340.00 price target (down from $400.00) on shares of MongoDB in a report on Tuesday, March 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average target price of $363.58.

MongoDB Stock Performance

Shares of MDB opened at $302.94 on Thursday. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of -344.25 and a beta of 1.48. The company’s 50 day simple moving average is $260.14 and its 200 day simple moving average is $336.15. MongoDB has a 1 year low of $182.43 and a 1 year high of $444.72.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Equities analysts expect that MongoDB will post -0.46 EPS for the current fiscal year.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.