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

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MDB. JMP Securities reiterated a "market outperform" rating and issued a $345.00 target price on shares of MongoDB in a research note on Thursday, June 5th. William Blair restated an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. Daiwa Capital Markets initiated coverage on MongoDB in a research report on Tuesday, April 1st. They set an "outperform" rating and a $202.00 target price on the stock. Rosenblatt Securities lowered their target price on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, June 5th. Finally, Citigroup cut their target price on MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $281.35.

MongoDB Price Performance

Shares of NASDAQ:MDB traded up $6.21 during midday trading on Friday, reaching $241.37. The company had a trading volume of 3,587,641 shares, compared to its average volume of 2,301,063. The stock has a market capitalization of $19.72 billion, a P/E ratio of -211.73 and a beta of 1.41. MongoDB has a one year low of $140.78 and a one year high of $370.00. The stock's fifty day moving average price is $205.47 and its 200-day moving average price is $212.72.

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

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $468,000.00. Following the sale, the director directly owned 1,107,006 shares of the company's stock, valued at $259,039,404. This represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,746 shares of company stock valued at $7,725,196. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NorthRock Partners LLC acquired a new stake in shares of MongoDB in the 2nd quarter valued at about $272,000. Yousif Capital Management LLC bought a new position in MongoDB in the 2nd quarter valued at $209,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of MongoDB by 4.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,354 shares of the company's stock worth $691,000 after acquiring an additional 158 shares during the last quarter. CWM LLC lifted its stake in MongoDB by 370.4% in the second quarter. CWM LLC now owns 16,967 shares of the company's stock worth $3,563,000 after acquiring an additional 13,360 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of MongoDB by 4.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,934 shares of the company's stock valued at $1,669,000 after purchasing an additional 334 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.