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

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading activity on Wednesday. Traders bought 23,831 put options on the company. This represents an increase of 2,157% compared to the typical volume of 1,056 put options.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $58,121,799.12. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,045 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $242.67, for a total transaction of $253,590.15. Following the transaction, the director now owns 85,652 shares in the company, valued at approximately $20,785,170.84. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,857 shares of company stock worth $9,613,306 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB during the 4th quarter worth approximately $29,000. Hilltop National Bank raised its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. bought a new stake in MongoDB in the fourth quarter valued at approximately $35,000. Continuum Advisory LLC increased its position in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. Finally, Versant Capital Management Inc raised its holdings in MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Truist Financial cut their price objective on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group decreased their target price on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Loop Capital reduced their price objective on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Needham & Company LLC dropped their price objective on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average target price of $312.84.

MongoDB Price Performance

MDB stock opened at $180.19 on Thursday. MongoDB has a 1 year low of $170.66 and a 1 year high of $387.19. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of -65.76 and a beta of 1.30. The company has a 50 day simple moving average of $240.77 and a 200 day simple moving average of $263.72.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.86 earnings per share. On average, equities research analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

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.