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

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

Analysts Set New Price Targets

Several analysts recently commented on MDB shares. Stifel Nicolaus cut their price objective on MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a report on Friday, April 11th. JMP Securities reaffirmed a "market outperform" rating and set a $345.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Rosenblatt Securities reduced their target price on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, June 5th. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Oppenheimer decreased their target price on MongoDB from $400.00 to $330.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus price target of $282.47.

MongoDB Stock Down 2.4%

Shares of MongoDB stock traded down $5.03 on Friday, reaching $205.63. The stock had a trading volume of 1,567,544 shares, compared to its average volume of 1,954,969. The stock has a market capitalization of $16.69 billion, a P/E ratio of -75.05 and a beta of 1.39. The company has a 50 day moving average price of $180.65 and a 200 day moving average price of $227.04. MongoDB has a 1 year low of $140.78 and a 1 year high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business's quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, insider Cedric Pech sold 1,690 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the transaction, the insider now owns 57,634 shares in the company, valued at approximately $9,985,666.84. This represents a 2.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 25,005 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 transaction of $5,851,170.00. Following the transaction, the chief executive officer now directly owns 256,974 shares of the company's stock, valued at $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,208 shares of company stock worth $10,167,739. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently modified their holdings of the stock. Cloud Capital Management LLC acquired a new position in shares of MongoDB during the first quarter valued at about $25,000. Hollencrest Capital Management acquired a new position in shares of MongoDB during the first quarter valued at about $26,000. Cullen Frost Bankers Inc. increased its holdings in shares of MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after acquiring an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB during the fourth quarter valued at about $29,000. Finally, NCP Inc. acquired a new position in shares of MongoDB during the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 89.29% of the company's stock.

About MongoDB

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.