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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors 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.

Analyst Upgrades and Downgrades

Several research analysts have commented on MDB shares. Scotiabank lifted their price objective on shares of MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Barclays lifted their target price on MongoDB from $252.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. JMP Securities reissued a "market outperform" rating and issued a $345.00 price target on shares of MongoDB in a report on Thursday, June 5th. DA Davidson reaffirmed a "buy" rating and set a $275.00 target price on shares of MongoDB in a report on Thursday, June 5th. Finally, Mizuho decreased their target price on MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MongoDB has an average rating of "Moderate Buy" and an average price target of $282.39.

MongoDB Trading Down 3.2%

MDB traded down $6.76 during mid-day trading on Friday, hitting $202.51. 1,692,989 shares of the stock were exchanged, compared to its average volume of 1,976,296. The firm's fifty day moving average is $199.07 and its two-hundred day moving average is $213.69. MongoDB has a 1-year low of $140.78 and a 1-year high of $370.00. The company has a market cap of $16.55 billion, a PE ratio of -177.64 and a beta of 1.41.

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, topping 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 firm 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 earned $0.51 EPS. MongoDB's revenue was up 21.8% on a year-over-year basis. As a group, research analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Transactions at MongoDB

In other news, CEO Dev Ittycheria sold 3,747 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $206.05, for a total transaction of $772,069.35. Following the sale, the chief executive officer owned 253,227 shares in the company, valued at approximately $52,177,423.35. The trade was a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 820 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction of $172,888.80. Following the transaction, the director owned 1,106,186 shares in the company, valued at $233,228,256.24. This represents a 0.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,746 shares of company stock worth $7,500,196. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its stake in MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock worth $243,000 after buying an additional 39 shares during the last quarter. Handelsbanken Fonder AB grew its stake in MongoDB by 0.4% during the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock worth $2,599,000 after buying an additional 65 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in MongoDB by 4.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after buying an additional 75 shares during the last quarter. Wedbush Securities Inc. grew its stake in MongoDB by 2.6% during the 1st quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock worth $530,000 after buying an additional 77 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in MongoDB by 15.9% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company's stock worth $100,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors 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.