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

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

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction on Friday, November 14th. The stock was sold at an average price of $338.52, for a total transaction of $3,385,200.00. Following the completion of the sale, the director owned 1,055,316 shares of the company’s stock, valued at approximately $357,245,572.32. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Thomas Killalea sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $321.87, for a total value of $6,437,400.00. Following the completion of the transaction, the director owned 32,293 shares in the company, valued at $10,394,147.91. This trade represents a 38.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 91,172 shares of company stock valued at $29,794,336 in the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in shares of MongoDB by 20.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,494 shares of the company’s stock worth $314,000 after purchasing an additional 249 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of MongoDB by 181.8% in the first quarter. Acadian Asset Management LLC now owns 562,190 shares of the company’s stock valued at $98,586,000 after purchasing an additional 362,705 shares in the last quarter. Red Spruce Capital LLC lifted its position in MongoDB by 11.8% in the second quarter. Red Spruce Capital LLC now owns 13,533 shares of the company’s stock worth $2,842,000 after purchasing an additional 1,426 shares during the period. Triton Financial Group Inc acquired a new stake in MongoDB during the second quarter worth $782,000. Finally, Jones Financial Companies Lllp increased its holdings in MongoDB by 875.2% in the 1st quarter. Jones Financial Companies Lllp now owns 9,947 shares of the company’s stock valued at $1,745,000 after buying an additional 8,927 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Performance

MongoDB stock opened at $326.27 on Thursday. The business’s 50-day simple moving average is $333.02 and its 200-day simple moving average is $265.50. MongoDB has a 52 week low of $140.78 and a 52 week high of $385.44. The firm has a market capitalization of $26.55 billion, a PE ratio of -332.93 and a beta of 1.52.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Tuesday, August 26th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of $0.66 by ($1.04). MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The business had revenue of $591.40 million during the quarter, compared to the consensus estimate of $553.23 million. During the same period in the prior year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up 23.7% on a year-over-year basis. Research analysts forecast that MongoDB will post -1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MDB shares. Wall Street Zen raised MongoDB from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Wedbush boosted their target price on shares of MongoDB from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Wolfe Research raised their price target on shares of MongoDB from $280.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, August 27th. Oppenheimer lifted their price objective on shares of MongoDB from $325.00 to $385.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Finally, BMO Capital Markets increased their target price on shares of MongoDB from $365.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $355.39.

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.