Traders Purchase Large Volume of Put Options on MongoDB (NASDAQ:MDB)

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MDB shares. Wall Street Zen lowered shares of MongoDB from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Robert W. Baird restated a “neutral” rating and set a $260.00 target price (down from $500.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Royal Bank Of Canada dropped their target price on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Piper Sandler dropped their target price on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Finally, Mizuho upgraded MongoDB from a “neutral” rating to an “outperform” rating and raised their price target for the company from $290.00 to $325.00 in a report on Monday, March 23rd. Twenty-six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $363.58.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $290.06, for a total transaction of $580,120.00. Following the sale, the director owned 1,003,316 shares in the company, valued at approximately $291,021,838.96. This trade represents a 0.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director owned 24,093 shares in the company, valued at approximately $6,007,107.69. The trade was a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 15,566 shares of company stock worth $3,875,011. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently modified their holdings of the business. Cramer Rosenthal Mcglynn LLC increased its position in shares of MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock valued at $17,938,000 after acquiring an additional 52,002 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in MongoDB by 1,277.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock worth $5,655,000 after buying an additional 16,896 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in MongoDB by 42.1% during the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock worth $41,910,000 after buying an additional 39,978 shares in the last quarter. Pinegrove Venture Partners LLC purchased a new stake in MongoDB during the third quarter worth $1,032,000. Finally, Kinetic Partners Management LP boosted its holdings in MongoDB by 27.2% during the third quarter. Kinetic Partners Management LP now owns 195,769 shares of the company’s stock worth $60,763,000 after buying an additional 41,810 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Up 0.0%

Shares of MDB opened at $303.09 on Friday. MongoDB has a 52-week low of $182.43 and a 52-week high of $444.72. The business has a fifty day moving average of $261.14 and a 200 day moving average of $335.93. The company has a market cap of $24.36 billion, a PE ratio of -344.42 and a beta of 1.48.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. As a group, research analysts anticipate that MongoDB will post -0.46 earnings per share for the current fiscal year.

About MongoDB

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.