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

MongoDB, Inc. (NASDAQ:MDB) was the target of some unusual options trading on Wednesday. Stock traders 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.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total value of $4,077,000.00. Following the completion of the transaction, the director directly owned 1,031,316 shares of the company’s stock, valued at $420,467,533.20. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 19,383 shares of company stock valued at $7,910,983 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several large investors have recently made changes to their positions in MDB. Central Pacific Bank Trust Division bought a new position in MongoDB in the fourth quarter valued at about $28,000. Cornerstone Planning Group LLC raised its holdings in MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. International Assets Investment Management LLC acquired a new position in MongoDB during the 4th quarter valued at about $33,000. Root Financial Partners LLC lifted its position in MongoDB by 58.2% during the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares during the period. Finally, Global Trust Asset Management LLC bought a new position in shares of MongoDB in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Price Performance

MDB opened at $268.52 on Thursday. The company’s 50 day simple moving average is $344.29 and its 200-day simple moving average is $352.85. MongoDB has a one year low of $140.78 and a one year high of $444.72. The stock has a market capitalization of $21.85 billion, a P/E ratio of -305.14 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 EPS. As a group, analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Argus increased their price objective on shares of MongoDB from $340.00 to $488.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Raymond James Financial assumed coverage on shares of MongoDB in a research report on Monday, December 15th. They set a “market perform” rating on the stock. Oppenheimer dropped their price target on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. The Goldman Sachs Group cut their price target on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Finally, Citigroup decreased their price objective on MongoDB from $435.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $354.18.

MongoDB Company Profile

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.