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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw unusually large options trading on Wednesday. Traders purchased 23,831 put options on the stock. This represents an increase of 2,157% compared to the typical daily volume of 1,056 put options.

Analysts Set New Price Targets

A number of brokerages have weighed in on MDB. Wells Fargo & Company cut shares of MongoDB from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. Canaccord Genuity Group lowered their target price on shares of MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Robert W. Baird decreased their price target on MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Barclays decreased their target price on MongoDB from $280.00 to $252.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Needham & Company LLC dropped their target price on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $286.88.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares in the company, valued at approximately $46,597,930.48. This trade represents a 6.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the sale, the director now directly owns 1,109,006 shares of the company's stock, valued at $300,130,293.78. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,203 shares of company stock worth $4,660,459. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MDB. Nisa Investment Advisors LLC increased its holdings in shares of MongoDB by 428.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company's stock valued at $1,340,000 after purchasing an additional 4,665 shares in the last quarter. Blue Trust Inc. increased its holdings in MongoDB by 59.4% in the fourth quarter. Blue Trust Inc. now owns 1,478 shares of the company's stock valued at $344,000 after buying an additional 551 shares in the last quarter. KBC Group NV lifted its position in shares of MongoDB by 5.2% during the 4th quarter. KBC Group NV now owns 18,079 shares of the company's stock valued at $4,209,000 after acquiring an additional 890 shares during the period. Pacer Advisors Inc. boosted its stake in shares of MongoDB by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,504 shares of the company's stock worth $1,281,000 after acquiring an additional 615 shares in the last quarter. Finally, Slow Capital Inc. grew its holdings in shares of MongoDB by 4.2% in the 4th quarter. Slow Capital Inc. now owns 18,134 shares of the company's stock worth $4,222,000 after acquiring an additional 735 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Stock Performance

MongoDB stock traded down $2.24 during trading hours on Friday, reaching $187.12. 2,627,437 shares of the stock were exchanged, compared to its average volume of 1,927,996. The stock has a market cap of $15.19 billion, a P/E ratio of -68.29 and a beta of 1.49. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The firm's 50 day moving average is $174.36 and its 200 day moving average is $233.50.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to analysts' expectations of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period last year, the company posted $0.86 earnings per share. Equities research analysts expect that MongoDB will post -1.78 EPS 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.