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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading 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.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total transaction of $713,190.00. Following the completion of the transaction, the director now directly owns 1,117,006 shares in the company, valued at $265,545,836.38. This represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,161 shares of company stock worth $8,427,806. Corporate 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 the company. Nisa Investment Advisors LLC increased its stake in MongoDB by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after acquiring an additional 40 shares during the last quarter. Tanager Wealth Management LLP increased its stake in MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after acquiring an additional 43 shares during the last quarter. Rakuten Securities Inc. increased its stake in MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after acquiring an additional 47 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in MongoDB by 5.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock valued at $322,000 after acquiring an additional 59 shares during the last quarter. Finally, Fulton Bank N.A. increased its stake in MongoDB by 5.6% in the third quarter. Fulton Bank N.A. now owns 1,199 shares of the company’s stock valued at $324,000 after acquiring an additional 64 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDB. Rosenblatt Securities began coverage on shares of MongoDB in a research note on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price for the company. Needham & Company LLC raised their target price on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Citigroup raised their target price on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, December 16th. DA Davidson raised their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley raised their target price on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $367.14.

MongoDB Trading Up 1.1 %

Shares of MDB opened at $248.68 on Friday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The firm’s 50 day moving average is $282.39 and its 200-day moving average is $269.01. The stock has a market capitalization of $18.52 billion, a PE ratio of -90.76 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last announced 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 business had revenue of $529.40 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. Equities research analysts predict that MongoDB will post -1.86 earnings per share for the current fiscal 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.