Investors Buy High 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 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.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now directly owns 1,140,006 shares in the company, valued at $263,341,386. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Thomas Bull sold 154 shares of the business's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now directly owns 16,068 shares of the company's stock, valued at approximately $4,117,425. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $231.00, for a total value of $462,000.00. Following the sale, the director now directly owns 1,140,006 shares in the company, valued at approximately $263,341,386. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,281 shares of company stock worth $6,310,411. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its position in shares of MongoDB by 14.3% in the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company's stock valued at $1,581,037,000 after acquiring an additional 551,567 shares in the last quarter. Swedbank AB raised its stake in MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company's stock valued at $164,222,000 after purchasing an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company's stock valued at $106,084,000 after purchasing an additional 388,979 shares in the last quarter. Clearbridge Investments LLC boosted its stake in MongoDB by 109.0% during the 1st quarter. Clearbridge Investments LLC now owns 445,084 shares of the company's stock worth $159,625,000 after purchasing an additional 232,101 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of MongoDB during the second quarter worth $52,131,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $6.52 during trading on Thursday, reaching $271.87. 4,698,429 shares of the company's stock traded hands, compared to its average volume of 1,460,463. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a 50-day simple moving average of $268.79 and a 200-day simple moving average of $286.09. The firm has a market cap of $19.94 billion, a PE ratio of -96.66 and a beta of 1.15.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB's quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned ($0.63) earnings per share. As a group, analysts predict that MongoDB will post -2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

MDB has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of MongoDB from $300.00 to $320.00 and gave the company a "buy" rating in a report on Friday, August 30th. Wells Fargo & Company raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an "overweight" rating in a research note on Friday, August 30th. Mizuho upped their price target on MongoDB from $250.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. DA Davidson raised their price objective on MongoDB from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. Finally, Tigress Financial dropped their target price on MongoDB from $500.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $337.96.

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.