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

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

Analysts Set New Price Targets

MDB has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Oppenheimer cut their price target on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company downgraded shares of MongoDB from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $365.00 to $225.00 in a report on Thursday, March 6th. Barclays dropped their target price on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Monness Crespi & Hardt upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $320.70.

Insider Activity

In related news, CAO Thomas Bull sold 169 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the sale, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 885 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the transaction, the director now owns 83,845 shares in the company, valued at $24,486,932.25. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,139 shares of company stock valued at $11,328,869. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. 111 Capital acquired a new stake in shares of MongoDB in the fourth quarter worth approximately $390,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of MongoDB during the 4th quarter valued at $5,769,000. Centaurus Financial Inc. increased its holdings in shares of MongoDB by 19.0% during the 4th quarter. Centaurus Financial Inc. now owns 2,499 shares of the company’s stock worth $582,000 after buying an additional 399 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of MongoDB during the 4th quarter worth $13,270,000. Finally, Azzad Asset Management Inc. ADV raised its position in shares of MongoDB by 17.7% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock worth $1,750,000 after buying an additional 1,132 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Performance

MDB stock opened at $189.30 on Friday. The company has a 50 day moving average price of $252.02 and a two-hundred day moving average price of $270.33. The stock has a market capitalization of $14.10 billion, a P/E ratio of -69.09 and a beta of 1.30. MongoDB has a one year low of $173.13 and a one year high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the prior year, the firm earned $0.86 EPS. Research analysts forecast that MongoDB will post -1.78 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.