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

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

MongoDB Stock Performance

Shares of MongoDB stock opened at $264.13 on Thursday. The stock has a market cap of $19.67 billion, a price-to-earnings ratio of -96.40 and a beta of 1.30. The stock has a 50 day moving average price of $263.70 and a 200-day moving average price of $275.28. MongoDB has a one year low of $212.74 and a one year high of $424.00.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. KeyCorp raised their price objective on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler restated an “overweight” rating and set a $425.00 target price on shares of MongoDB in a research note on Tuesday, December 10th. DA Davidson increased their price target on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their price objective on MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.83.

Insider Activity

In other news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,314 shares of company stock valued at $13,337,753 in the last quarter. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB in the fourth quarter worth about $29,000. Hilltop National Bank lifted its stake in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. purchased a new position in MongoDB during the 4th quarter valued at $35,000. Brooklyn Investment Group bought a new position in MongoDB in the 3rd quarter valued at $36,000. Finally, Continuum Advisory LLC grew its position in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.