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 traders bought 23,831 put options on the company. This is an increase of 2,157% compared to the average daily volume of 1,056 put options.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the completion of the transaction, the director now directly owns 83,845 shares of the company's stock, valued at $24,486,932.25. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares of the company's stock, valued at $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,979 shares of company stock valued at $11,963,757. Company insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MDB. B.O.S.S. Retirement Advisors LLC acquired a new stake in MongoDB in the fourth quarter valued at $606,000. Aigen Investment Management LP acquired a new stake in MongoDB in the third quarter valued at $1,045,000. Geode Capital Management LLC lifted its stake in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after acquiring an additional 34,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in MongoDB in the third quarter valued at $4,366,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in MongoDB by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company's stock valued at $75,271,000 after acquiring an additional 7,575 shares during the last quarter. Institutional investors own 89.29% of the company's stock.

MongoDB Stock Performance

MongoDB stock traded down $13.89 during mid-day trading on Friday, reaching $276.11. The company's stock had a trading volume of 672,446 shares, compared to its average volume of 1,477,813. The company has a market capitalization of $20.56 billion, a price-to-earnings ratio of -101.01 and a beta of 1.28. MongoDB has a 12 month low of $212.74 and a 12 month high of $459.70. The business's 50 day simple moving average is $261.59 and its 200 day simple moving average is $273.25.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. As a group, sell-side analysts expect that MongoDB will post -1.78 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on MDB. Stifel Nicolaus lifted their price target on shares of MongoDB from $325.00 to $360.00 and gave the company a "buy" rating in a report on Monday, December 9th. Mizuho lifted their price target on shares of MongoDB from $275.00 to $320.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Macquarie assumed coverage on shares of MongoDB in a research note on Thursday, December 12th. They issued a "neutral" rating and a $300.00 target price for the company. Robert W. Baird boosted their target price on shares of MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group boosted their target price on shares of MongoDB from $340.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $361.00.

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.