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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 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.

MongoDB Stock Performance

Shares of MDB opened at $280.11 on Thursday. The business’s fifty day moving average price is $257.85 and its 200 day moving average price is $299.90. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The stock has a market capitalization of $20.55 billion, a PE ratio of -99.68 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MDB shares. Canaccord Genuity Group lowered their price target on shares of MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Sanford C. Bernstein increased their price target on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Truist Financial increased their price target on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Piper Sandler increased their price target on shares of MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Citigroup increased their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.56.

Insider Transactions at MongoDB

In related news, CRO Cedric Pech sold 273 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the completion of the transaction, the executive now owns 35,719 shares in the company, valued at approximately $9,475,893.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CRO Cedric Pech sold 273 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the completion of the transaction, the executive now owns 35,719 shares in the company, valued at approximately $9,475,893.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $36,610.02. Following the transaction, the chief accounting officer now owns 17,222 shares in the company, valued at approximately $4,568,824.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,005 shares of company stock valued at $8,082,746. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. boosted its position in shares of MongoDB by 25.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,400 shares of the company’s stock valued at $350,000 after purchasing an additional 285 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of MongoDB in the 2nd quarter valued at $1,860,000. Sycomore Asset Management boosted its position in shares of MongoDB by 86.4% in the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after purchasing an additional 24,827 shares during the period. Truist Financial Corp boosted its position in shares of MongoDB by 15.9% in the 2nd quarter. Truist Financial Corp now owns 40,184 shares of the company’s stock valued at $10,044,000 after purchasing an additional 5,509 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its position 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 purchasing an additional 133 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.