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

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading on Wednesday. Traders acquired 23,831 put options on the company. Thisrepresentsanincreaseofapproximately2,157% compared to the typical daily volume of 1,056 put options.

MongoDB Price Performance

Shares of MDB opened at $312.88 on Thursday. MongoDB has a 1 year low of $140.78 and a 1 year high of $370.00. The stock’s fifty day moving average price is $229.48 and its two-hundred day moving average price is $207.78. The firm has a market cap of $25.57 billion, a PE ratio of -319.27 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. Sell-side analysts anticipate that MongoDB will post -1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDB has been the subject of several analyst reports. Sanford C. Bernstein increased their price objective on shares of MongoDB from $319.00 to $338.00 and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Needham & Company LLC upped their target price on MongoDB from $270.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Wolfe Research lifted their price target on MongoDB from $280.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, August 27th. UBS Group boosted their price objective on MongoDB from $240.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Finally, Piper Sandler upped their price objective on MongoDB from $275.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average price target of $310.86.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director owned 21,096 shares in the company, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dev Ittycheria sold 33,320 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $301.29, for a total value of $10,038,982.80. Following the transaction, the chief executive officer owned 203,237 shares in the company, valued at approximately $61,233,275.73. This trade represents a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,731 shares of company stock valued at $15,656,469 over the last 90 days. Insiders own 3.10% of the company’s stock.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of MDB. Cloud Capital Management LLC purchased a new position in MongoDB in the 1st quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new stake in shares of MongoDB during the first quarter worth $26,000. Cullen Frost Bankers Inc. boosted its holdings in shares of MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 120 shares during the period. Montag A & Associates Inc. grew its position in shares of MongoDB by 144.3% in the second quarter. Montag A & Associates Inc. now owns 171 shares of the company’s stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of MongoDB in the second quarter valued at $36,000. Institutional investors own 89.29% of the company’s stock.

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.