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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of some unusual options trading on Wednesday. Traders acquired 23,831 put options on the company. This represents an increase of 2,157% compared to the average volume of 1,056 put options.

Analyst Ratings Changes

Several research firms have weighed in on MDB. Royal Bank of Canada restated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a report on Friday, August 30th. UBS Group lifted their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Canaccord Genuity Group lowered their target price on MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Tigress Financial reduced their price objective on MongoDB from $500.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, DA Davidson lifted their price objective on MongoDB from $265.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $337.56.

Insider Buying and Selling

In other news, CAO Thomas Bull sold 138 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the completion of the transaction, the chief accounting officer now owns 17,222 shares in the company, valued at approximately $4,568,824.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the completion of the transaction, the director now directly owns 1,146,003 shares of the company’s stock, valued at $280,770,735. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the completion of the sale, the chief accounting officer now directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The disclosure for this sale can be found here. Insiders have sold 32,005 shares of company stock valued at $8,082,746 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. Transcendent Capital Group LLC acquired a new position in shares of MongoDB during the fourth quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in MongoDB during the 2nd quarter worth $25,000. J.Safra Asset Management Corp lifted its holdings in MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares in the last quarter. Quarry LP boosted its position in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of MongoDB during the second quarter valued at about $35,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Up 1.3 %

Shares of NASDAQ:MDB opened at $283.86 on Friday. The stock has a 50-day simple moving average of $258.55 and a 200-day simple moving average of $299.79. The stock has a market capitalization of $20.82 billion, a P/E ratio of -101.02 and a beta of 1.15. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same period in the previous year, the firm earned ($0.63) earnings per share. MongoDB’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts forecast that MongoDB will post -2.46 earnings per share for the current year.

MongoDB Company Profile

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.