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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the target of unusually large options trading on Wednesday. Stock investors purchased 23,831 put options on the company. This is an increase of 2,157% compared to the typical volume of 1,056 put options.

Analysts Set New Price Targets

A number of brokerages have weighed in on MDB. Morgan Stanley upped their price target on shares of MongoDB from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Stifel Nicolaus increased their target price on shares of MongoDB from $325.00 to $360.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Barclays lifted their price target on shares of MongoDB from $375.00 to $400.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Rosenblatt Securities started coverage on MongoDB in a research report on Tuesday, December 17th. They set a "buy" rating and a $350.00 price objective for the company. Finally, DA Davidson lifted their target price on MongoDB from $340.00 to $405.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus target price of $367.14.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $237.73, for a total transaction of $713,190.00. Following the completion of the transaction, the director now directly owns 1,117,006 shares of the company's stock, valued at approximately $265,545,836.38. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 169 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the sale, the chief accounting officer now directly owns 14,899 shares in the company, valued at $3,487,706.91. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,161 shares of company stock valued at $8,427,806 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently bought and sold shares of MDB. Quarry LP lifted its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company's stock worth $33,000 after buying an additional 129 shares during the last quarter. Brooklyn Investment Group acquired a new position in MongoDB during the 3rd quarter worth $36,000. GAMMA Investing LLC boosted its holdings in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company's stock valued at $39,000 after acquiring an additional 93 shares during the period. Continuum Advisory LLC grew its position in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. Finally, Asset Dedication LLC bought a new position in shares of MongoDB in the second quarter worth about $41,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

Shares of NASDAQ MDB traded up $2.72 during trading hours on Thursday, hitting $248.68. The stock had a trading volume of 1,042,159 shares, compared to its average volume of 1,706,835. The firm's 50-day moving average price is $282.39 and its two-hundred day moving average price is $269.01. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The company has a market capitalization of $18.52 billion, a P/E ratio of -90.76 and a beta of 1.25.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same period in the previous year, the firm posted $0.96 earnings per share. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, analysts expect that MongoDB will post -1.86 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.