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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the target of unusually large options trading activity on Wednesday. Investors acquired 23,831 put options on the company. This represents an increase of approximately 2,157% compared to the typical daily volume of 1,056 put options.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MDB shares. Scotiabank restated a "sector perform" rating and set a $240.00 price objective (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. UBS Group set a $350.00 price objective on shares of MongoDB in a research report on Tuesday, March 4th. Wells Fargo & Company downgraded shares of MongoDB from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. Tigress Financial raised their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC cut their target price on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $320.70.

MongoDB Price Performance

Shares of MongoDB stock traded up $3.24 during trading on Friday, hitting $192.54. The stock had a trading volume of 2,184,849 shares, compared to its average volume of 1,701,319. The firm's fifty day simple moving average is $250.97 and its 200-day simple moving average is $269.55. The stock has a market cap of $14.34 billion, a PE ratio of -70.27 and a beta of 1.30. MongoDB has a 12 month low of $173.13 and a 12 month high of $387.19.

Remove Ads

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the previous year, the business earned $0.86 EPS. Analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 169 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the transaction, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,139 shares of company stock worth $11,328,869. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDB. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of MongoDB in the 4th quarter valued at about $606,000. Geode Capital Management LLC raised its holdings in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after purchasing an additional 34,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of MongoDB in the 3rd quarter valued at about $4,366,000. Charles Schwab Investment Management Inc. raised its holdings in shares of MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company's stock valued at $75,271,000 after purchasing an additional 7,575 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of MongoDB in the 4th quarter valued at about $3,515,000. 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.