Traders Buy High Volume of MongoDB Put Options (NASDAQ:MDB)

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

Analysts Set New Price Targets

MDB has been the subject of several research analyst reports. UBS Group upped their target price on shares of MongoDB from $213.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Mizuho dropped their price objective on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Robert W. Baird dropped their price objective on shares of MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Guggenheim increased their price objective on shares of MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Finally, Barclays increased their price objective on shares of MongoDB from $252.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and an average target price of $282.47.

MongoDB Stock Up 0.3%

NASDAQ:MDB traded up $0.72 during mid-day trading on Friday, reaching $209.92. 3,106,432 shares of the company were exchanged, compared to its average volume of 1,960,037. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00. The company has a fifty day moving average of $190.83 and a 200 day moving average of $216.65. The stock has a market cap of $17.15 billion, a PE ratio of -184.14 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. 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 firm earned $0.51 EPS. The company's revenue was up 21.8% on a year-over-year basis. On average, equities research analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 25,005 shares of the company'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 $5,851,170.00. Following the completion of the transaction, the chief executive officer now directly owns 256,974 shares in the company, valued at $60,131,916. This represents a 8.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas Bull sold 301 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,202 shares of company stock worth $10,576,696 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in MongoDB by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock worth $1,369,833,000 after acquiring an additional 481,023 shares during the last quarter. Franklin Resources Inc. grew its holdings in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after acquiring an additional 181,962 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in MongoDB by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company's stock worth $223,011,000 after acquiring an additional 129,451 shares during the last quarter. Geode Capital Management LLC grew its holdings in MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock worth $290,987,000 after acquiring an additional 22,106 shares during the last quarter. Finally, Amundi grew its holdings in MongoDB by 53.0% during the 1st quarter. Amundi now owns 1,061,457 shares of the company's stock worth $173,378,000 after acquiring an additional 367,717 shares during the last quarter. 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.