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

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

Wall Street Analysts Forecast Growth

MDB has been the subject of several recent analyst reports. Scotiabank increased their price objective on MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. Citigroup lifted their price target on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays boosted their price target on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Needham & Company LLC raised their price objective on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Piper Sandler boosted their target price on MongoDB from $335.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $340.29.

MongoDB Stock Performance

MDB stock opened at $324.60 on Thursday. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62. The business’s fifty day moving average is $281.84 and its 200-day moving average is $271.65. The company has a market cap of $23.98 billion, a P/E ratio of -107.48 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the previous year, the firm earned ($0.63) earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that MongoDB will post -2.39 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the transaction, the director now directly owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,600 shares of company stock worth $7,732,589. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently made changes to their positions in the stock. MFA Wealth Advisors LLC acquired a new stake in shares of MongoDB during the second quarter worth $25,000. J.Safra Asset Management Corp grew its stake in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares during the period. Quarry LP grew its stake in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the period. Brooklyn Investment Group acquired a new position in MongoDB in the third quarter valued at about $36,000. Finally, Continuum Advisory LLC grew its stake in MongoDB by 621.1% in the third 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 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.