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

Posted by on Jul 13th, 2023

MongoDB, Inc. (NASDAQ:MDB – Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders acquired 23,831 put options on the company. This is an increase of approximately 2,157% compared to the average volume of 1,056 put options.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $391.08 on Thursday. MongoDB has a fifty-two week low of $135.15 and a fifty-two week high of $418.70. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of -83.74 and a beta of 1.13. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.19 and a current ratio of 4.19. The business has a 50-day simple moving average of $339.94 and a two-hundred day simple moving average of $257.00.

MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings results on Thursday, June 1st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.18 by $0.38. The firm had revenue of $368.28 million during the quarter, compared to analyst estimates of $347.77 million. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.15) EPS. On average, analysts expect that MongoDB will post -2.8 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 606 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $382.41, for a total value of $231,740.46. Following the transaction, the director now directly owns 1,214,159 shares in the company, valued at $464,306,543.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $240.00, for a total transaction of $480,000.00. Following the completion of the transaction, the director now owns 1,223,954 shares in the company, valued at $293,748,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 606 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $382.41, for a total transaction of $231,740.46. Following the sale, the director now owns 1,214,159 shares of the company’s stock, valued at approximately $464,306,543.19. The disclosure for this sale can be found here. Insiders have sold a total of 117,427 shares of company stock valued at $41,364,961 over the last quarter. 4.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 1832 Asset Management L.P. increased its stake in MongoDB by 3,283,771.0% in the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after purchasing an additional 1,017,969 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of MongoDB by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock worth $1,770,313,000 after purchasing an additional 897,911 shares during the last quarter. Renaissance Technologies LLC raised its position in MongoDB by 493.2% during the fourth quarter. Renaissance Technologies LLC now owns 918,200 shares of the company’s stock valued at $180,738,000 after acquiring an additional 763,400 shares in the last quarter. Norges Bank purchased a new position in MongoDB during the fourth quarter valued at approximately $147,735,000. Finally, Champlain Investment Partners LLC purchased a new position in MongoDB during the first quarter valued at approximately $89,157,000. 89.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDB. Royal Bank of Canada lifted their price target on shares of MongoDB from $400.00 to $445.00 in a report on Friday, June 23rd. 58.com restated a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. Robert W. Baird lifted their price objective on shares of MongoDB from $390.00 to $430.00 in a research note on Friday, June 23rd. Tigress Financial lifted their price objective on shares of MongoDB from $365.00 to $490.00 in a research note on Wednesday, June 28th. Finally, Oppenheimer boosted their price target on shares of MongoDB from $270.00 to $430.00 in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $366.59.

About MongoDB

(Get Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

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