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

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading activity on Wednesday. Stock traders acquired 23,831 put options on the company. This is an increase of 2,157% compared to the typical daily volume of 1,056 put options.

MongoDB Stock Performance

MDB stock opened at $288.61 on Friday. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The stock’s 50 day simple moving average is $293.13 and its 200 day simple moving average is $269.12. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $21.32 billion, a PE ratio of -95.57 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share. As a group, research analysts forecast that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $7,611,849 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in shares of MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares in the last quarter. Taylor Frigon Capital Management LLC increased its position in MongoDB by 0.4% in the second quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock worth $2,475,000 after buying an additional 42 shares in the last quarter. Tanager Wealth Management LLP raised its stake in shares of MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock worth $259,000 after buying an additional 43 shares during the period. Fifth Third Bancorp lifted its position in shares of MongoDB by 7.6% during the 2nd quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock valued at $155,000 after buying an additional 44 shares in the last quarter. Finally, Rakuten Securities Inc. grew its stake in shares of MongoDB by 16.5% during the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after acquiring an additional 47 shares during the period. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MDB. Piper Sandler reaffirmed an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a report on Tuesday. Barclays upped their price target on MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday. Scotiabank lifted their price objective on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a report on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a report on Tuesday. Finally, Morgan Stanley lifted their target price on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average price target of $370.08.

MongoDB Company Profile

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.