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

MongoDB, Inc. (NASDAQ:MDB) was the target of some unusual options trading on Wednesday. Investors bought 23,831 put options on the stock. This is an increase of approximately 2,157% compared to the typical volume of 1,056 put options.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDB. Royal Bank of Canada raised their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group upped their target price on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 6th. Macquarie started coverage on shares of MongoDB in a research report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. Finally, China Renaissance assumed coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,319 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $285.92, for a total transaction of $377,128.48. Following the transaction, the director now owns 87,744 shares in the company, valued at $25,087,764.48. This trade represents a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,491 shares of company stock valued at $11,543,480. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of MDB. B. Riley Wealth Advisors Inc. raised its holdings in shares of MongoDB by 12.0% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 1,242 shares of the company’s stock valued at $310,000 after acquiring an additional 133 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in MongoDB during the second quarter valued at approximately $1,860,000. Handelsbanken Fonder AB grew its stake in MongoDB by 1.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 23,157 shares of the company’s stock worth $6,260,000 after buying an additional 351 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after buying an additional 93 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in shares of MongoDB by 22.5% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 6,387 shares of the company’s stock worth $1,727,000 after acquiring an additional 1,173 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Down 1.4 %

NASDAQ MDB opened at $278.10 on Friday. The company has a market cap of $20.71 billion, a PE ratio of -101.50 and a beta of 1.28. The firm’s 50-day simple moving average is $268.90 and its two-hundred day simple moving average is $270.32. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. As a group, equities research analysts anticipate that MongoDB will post -1.78 EPS 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.