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

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

MongoDB Trading Up 0.0%

Shares of MongoDB stock opened at $258.29 on Thursday. The company has a market capitalization of $20.76 billion, a PE ratio of -293.51 and a beta of 1.60. MongoDB has a 12 month low of $167.19 and a 12 month high of $444.72. The stock's fifty day simple moving average is $266.97 and its 200 day simple moving average is $338.06.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm's revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 EPS. Analysts predict that MongoDB will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the transaction, the director directly owned 24,093 shares of the company's stock, valued at approximately $6,007,107.69. This represents a 6.10% 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 8,000 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $236.89, for a total value of $1,895,120.00. Following the completion of the transaction, the director directly owned 1,005,316 shares of the company's stock, valued at approximately $238,149,307.24. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 14,756 shares of company stock valued at $3,734,893. 3.10% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of the company. Clark Financial Services Group Inc. BD raised its stake in shares of MongoDB by 1.5% in the 4th quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company's stock valued at $702,000 after purchasing an additional 25 shares during the period. Root Financial Partners LLC raised its stake in shares of MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company's stock valued at $37,000 after purchasing an additional 32 shares during the period. True Wealth Design LLC increased its position in shares of MongoDB by 9.4% in the fourth quarter. True Wealth Design LLC now owns 419 shares of the company's stock valued at $176,000 after acquiring an additional 36 shares during the last quarter. HighPoint Advisor Group LLC increased its position in shares of MongoDB by 2.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company's stock valued at $626,000 after acquiring an additional 36 shares during the last quarter. Finally, Lido Advisors LLC increased its position in shares of MongoDB by 3.4% in the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company's stock valued at $458,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price target on MongoDB from $435.00 to $400.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. The Goldman Sachs Group dropped their price target on MongoDB from $475.00 to $320.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Piper Sandler dropped their price target on MongoDB from $490.00 to $330.00 and set an "overweight" rating for the company in a report on Tuesday, March 3rd. Sanford C. Bernstein cut MongoDB from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 3rd. Finally, UBS Group decreased their price objective on MongoDB from $440.00 to $275.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 3rd. Twenty-six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, MongoDB has an average rating of "Moderate Buy" and an average price target of $361.97.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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