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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading on Wednesday. Traders acquired 23,831 put options on the stock. This represents an increase of 2,157% compared to the typical volume of 1,056 put options.

Wall Street Analyst Weigh In

MDB has been the topic of a number of recent research reports. JMP Securities reissued a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research report on Friday, August 30th. Wedbush raised MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. DA Davidson increased their target price on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Oppenheimer raised their target price on MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Sanford C. Bernstein upped their price target on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $334.25.

MongoDB Stock Up 3.2 %

Shares of NASDAQ:MDB opened at $300.89 on Thursday. The company has a 50 day moving average of $277.90 and a 200-day moving average of $275.28. MongoDB has a one year low of $212.74 and a one year high of $509.62. The stock has a market cap of $22.23 billion, a price-to-earnings ratio of -99.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

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

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the transaction, the director now owns 1,127,006 shares of the company’s stock, valued at $303,807,007.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the transaction, the director now directly owns 1,127,006 shares in the company, valued at approximately $303,807,007.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $282.89, for a total value of $282,890.00. Following the transaction, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at $4,589,041.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,281 shares of company stock worth $6,657,121. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

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

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.