Stock traders buy large volume of put options on MongoDB (NASDAQ:MDB)


MongoDB, Inc. (NASDAQ:MDB – Get Rating) was the recipient of unusually heavy options trading activity on Wednesday. Traders acquired 23,831 put options on the company. This represents an increase of approximately 2,157% from the typical daily volume of 1,056 put options.

Separately, director Charles M. Hazard, Jr. sold 1,666 MongoDB shares in a trade dated Tuesday, March 1. The stock was sold at an average price of $382.87, for a total value of $637,861.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, insider Thomas Bull sold 2,500 MongoDB shares in a trade dated Thursday, March 31. The shares were sold at an average price of $444.14, for a total value of $1,110,350.00. Following the completion of the transaction, the insider now directly owns 17,904 shares of the company, valued at $7,951,882.56. The disclosure of this sale can be found here. Insiders sold 158,167 shares of the company worth $61,541,211 during the last quarter. Company insiders hold 7.40% of the company’s shares.

A number of institutional investors and hedge funds have been buying and selling stocks recently. Confluence Wealth Services Inc. bought a new position in MongoDB during Q4 worth $25,000. Bank of New Hampshire bought a new position in MongoDB during Q1 worth $25,000. Quent Capital LLC bought a new position in MongoDB during Q4 worth $26,000. Arlington Partners LLC bought a new position in MongoDB during Q4 worth $30,000. Finally, Winch Advisory Services LLC increased its position in MongoDB by 54.2% during the 3rd quarter. Winch Advisory Services LLC now owns 74 shares of the company worth $35,000 after purchasing 26 additional shares during the period. Institutional investors and hedge funds hold 88.70% of the company’s shares.

Several brokerages have weighed in on MDB. UBS Group upgraded MongoDB from a “neutral” rating to a “buy” rating and raised its price target for the stock from $345.00 to $450.00 in a Friday, March 18 report. Zacks Investment Research downgraded MongoDB from a “hold” rating to a “sell” rating in a Thursday, February 3, research report. Mizuho lowered its target price on MongoDB from $400.00 to $325.00 and set a “neutral” rating for the company in a Wednesday, March 9 research report. Barclays cut its target price on MongoDB from $556.00 to $410.00 and set an “overweight” rating for the company in a Wednesday, March 9 research report. Finally, Credit Suisse Group reduced its price target on MongoDB from $700.00 to $650.00 and set an “outperform” rating for the company in a Wednesday, March 9 research report. One financial analyst has assigned the stock a sell rating, one has issued a hold rating and fifteen have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $496.72.

MongoDB shares opened at $360.56 on Thursday. MongoDB has a 12-month low of $238.01 and a 12-month high of $590.00. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt ratio of 1.70. The company’s 50-day moving average is $382.73 and its 200-day moving average is $442.13.

MongoDB (NASDAQ:MDB – Get Rating) last reported quarterly earnings data on Tuesday, March 8. The company reported ($1.20) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($1.25) by $0.05. MongoDB had a negative return on equity of 66.70% and a negative net margin of 35.12%. The company posted revenue of $266.50 million for the quarter, compared to $243.42 million expected by analysts. In the same quarter of the previous year, the company recorded EPS of ($1.01). The company’s revenues increased by 55.8% compared to the same quarter last year. On average, equity research analysts expect MongoDB to post -5.48 EPS for the current year.

About MongoDB (Get a rating)

MongoDB, Inc provides a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database solution as a service; and Community Server, a free downloadable version of its database, which includes the features developers need to get started with MongoDB.

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