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

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

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 1,000 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $290.40, for a total transaction of $290,400.00. Following the completion of the sale, the director now owns 1,138,006 shares in the company, valued at approximately $330,476,942.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dwight A. Merriman sold 1,000 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $290.40, for a total transaction of $290,400.00. Following the completion of the sale, the director now owns 1,138,006 shares of the company's stock, valued at $330,476,942.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 3,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total value of $872,370.00. Following the completion of the transaction, the director now directly owns 1,135,006 shares in the company, valued at approximately $330,048,394.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,281 shares of company stock worth $6,657,121. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in MDB. Envestnet Portfolio Solutions Inc. boosted its position in MongoDB by 13.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,464 shares of the company's stock valued at $884,000 after buying an additional 285 shares during the last quarter. Empowered Funds LLC lifted its stake in MongoDB by 75.4% during the 1st quarter. Empowered Funds LLC now owns 1,121 shares of the company's stock valued at $402,000 after acquiring an additional 482 shares during the period. SG Americas Securities LLC boosted its holdings in shares of MongoDB by 179.7% in the 1st quarter. SG Americas Securities LLC now owns 7,142 shares of the company's stock valued at $2,561,000 after acquiring an additional 4,589 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of MongoDB by 27.0% in the first quarter. ProShare Advisors LLC now owns 71,122 shares of the company's stock worth $25,507,000 after acquiring an additional 15,125 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in shares of MongoDB by 27.6% during the first quarter. William Blair Investment Management LLC now owns 9,332 shares of the company's stock worth $3,347,000 after purchasing an additional 2,021 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MDB shares. Oppenheimer raised their price objective on MongoDB from $300.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, August 30th. Wedbush raised MongoDB to a "strong-buy" rating in a research note on Thursday, October 17th. Piper Sandler increased their target price on MongoDB from $300.00 to $335.00 and gave the company an "overweight" rating in a research report on Friday, August 30th. UBS Group boosted their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Finally, Bank of America upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $334.25.

MongoDB Stock Down 0.2 %

Shares of NASDAQ:MDB traded down $0.68 during trading on Thursday, reaching $300.21. The stock had a trading volume of 701,120 shares, compared to its average volume of 1,426,149. The firm's 50-day simple moving average is $278.11 and its 200 day simple moving average is $275.45. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a one year low of $212.74 and a one year high of $509.62. The company has a market capitalization of $22.18 billion, a P/E ratio of -98.02 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. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the prior year, the business posted ($0.63) EPS. The business's revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts expect that MongoDB will post -2.39 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.