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

Key Points

• MongDB saw a significant increase in put options trading, with investors acquiring 23,831 put options, a rise of 2,157% from the usual volume of 1,056.
• In its latest earnings report, MongoDB reported a 21.8% year-over-year revenue growth reaching $549.01 million, exceeding analysts' expectations.
• Several analysts have issued ratings upgrades for MongoDB, with a consensus target price of $281.31 and 27 analysts recommending a buy.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw some unusual options trading on Wednesday. Investors acquired 23,831 put options on the stock. Thisrepresentsanincreaseof2,157% compared to the typical volume of 1,056 put options.

MongoDB Stock Up 3.3%

Shares of MongoDB stock opened at $235.82 on Thursday. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00. The business's fifty day simple moving average is $214.05 and its 200-day simple moving average is $212.07. The firm has a market cap of $19.27 billion, a PE ratio of -206.86 and a beta of 1.44.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same quarter in the prior year, the company posted $0.51 EPS. The company's quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the completion of the sale, the director owned 1,107,006 shares of the company's stock, valued at $259,039,404. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently modified their holdings of MDB. Cloud Capital Management LLC purchased a new stake in shares of MongoDB in the 1st quarter valued at $25,000. Hollencrest Capital Management purchased a new stake in shares of MongoDB in the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. raised its holdings in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after buying an additional 120 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB in the 4th quarter valued at $29,000. Finally, True Wealth Design LLC raised its holdings in shares of MongoDB by 1,193.8% in the 2nd quarter. True Wealth Design LLC now owns 207 shares of the company's stock valued at $43,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

MDB has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on MongoDB in a research report on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 price objective for the company. DA Davidson restated a "buy" rating and issued a $275.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Macquarie restated a "neutral" rating and issued a $230.00 price objective (up from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Cantor Fitzgerald boosted their price objective on MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Finally, Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price objective for the company in a research report on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $281.31.

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.

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