MongoDB Target of Unusually High Options Trading (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 23,831 put options on the company. This is an increase of approximately 2,157% compared to the typical volume of 1,056 put options.

MongoDB Stock Down 0.4 %

Shares of MDB stock traded down $0.74 during trading on Tuesday, reaching $172.22. 1,278,175 shares of the company's stock were exchanged, compared to its average volume of 1,853,068. MongoDB has a twelve month low of $140.78 and a twelve month high of $379.06. The firm's fifty day moving average price is $181.04 and its 200-day moving average price is $243.57. The stock has a market capitalization of $13.98 billion, a PE ratio of -62.85 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the prior year, the firm earned $0.86 earnings per share. As a group, analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MDB shares. Truist Financial lowered their price target on MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, March 31st. Rosenblatt Securities reissued a "buy" rating and set a $350.00 target price on shares of MongoDB in a research note on Tuesday, March 4th. Royal Bank of Canada cut their price target on shares of MongoDB from $400.00 to $320.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company downgraded shares of MongoDB from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Finally, Monness Crespi & Hardt raised shares of MongoDB from a "sell" rating to a "neutral" rating in a research report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $294.78.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the transaction, the director now directly owns 83,845 shares of the company's stock, valued at $24,486,932.25. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares of the company's stock, valued at approximately $1,109,903.56. This represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,345 shares of company stock valued at $7,687,310. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new position in shares of MongoDB during the first quarter worth approximately $25,000. Hollencrest Capital Management acquired a new position in MongoDB in the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. increased its position in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after buying an additional 120 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of MongoDB during the fourth quarter worth $29,000. Finally, Hilltop National Bank boosted its position in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after acquiring an additional 42 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.