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

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MongoDB, Inc. (NASDAQ:MDBGet Rating) was the recipient of some unusual options trading on Wednesday. Stock traders bought 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.

Shares of NASDAQ:MDB traded down $18.91 during trading on Thursday, hitting $235.41. The company’s stock had a trading volume of 38,465 shares, compared to its average volume of 1,512,730. The business has a 50 day moving average price of $311.00 and a two-hundred day moving average price of $385.35. The company has a market capitalization of $16.03 billion, a PE ratio of -48.26 and a beta of 1.00. The company has a debt-to-equity ratio of 1.69, a quick ratio of 4.16 and a current ratio of 4.16. MongoDB has a fifty-two week low of $213.39 and a fifty-two week high of $590.00.

MongoDB (NASDAQ:MDBGet Rating) last posted its quarterly earnings results on Wednesday, June 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of ($1.34) by $1.54. The business had revenue of $285.45 million during the quarter, compared to the consensus estimate of $267.10 million. MongoDB had a negative net margin of 32.75% and a negative return on equity of 45.56%. The company’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.98) earnings per share. As a group, equities analysts expect that MongoDB will post -5.09 earnings per share for the current fiscal year.

In related news, insider Thomas Bull sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $444.14, for a total value of $1,110,350.00. Following the completion of the sale, the insider now owns 17,904 shares in the company, valued at $7,951,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $251.74, for a total value of $755,220.00. Following the completion of the sale, the director now owns 544,896 shares of the company’s stock, valued at approximately $137,172,119.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,809 shares of company stock worth $32,992,875. Insiders own 5.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Profund Advisors LLC purchased a new stake in MongoDB in the third quarter valued at $290,000. Dimensional Fund Advisors LP lifted its position in MongoDB by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 92,031 shares of the company’s stock valued at $43,389,000 after acquiring an additional 1,332 shares during the last quarter. Penserra Capital Management LLC lifted its position in MongoDB by 144.9% in the third quarter. Penserra Capital Management LLC now owns 453 shares of the company’s stock valued at $212,000 after acquiring an additional 268 shares during the last quarter. Guggenheim Capital LLC lifted its position in MongoDB by 14.4% in the third quarter. Guggenheim Capital LLC now owns 2,099 shares of the company’s stock valued at $990,000 after acquiring an additional 265 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in MongoDB by 25.7% in the third quarter. Marshall Wace LLP now owns 13,665 shares of the company’s stock valued at $6,443,000 after acquiring an additional 2,795 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

MDB has been the subject of several analyst reports. Morgan Stanley decreased their price objective on MongoDB from $378.00 to $368.00 and set an “overweight” rating for the company in a report on Thursday, June 2nd. Oppenheimer cut their price target on MongoDB from $490.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, June 2nd. Piper Sandler lowered their target price on shares of MongoDB from $585.00 to $430.00 and set an “overweight” rating on the stock in a research note on Thursday, June 2nd. William Blair reissued an “outperform” rating on shares of MongoDB in a research note on Tuesday, May 24th. Finally, Citigroup increased their target price on shares of MongoDB from $405.00 to $425.00 in a research note on Thursday, June 2nd. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $420.38.

About MongoDB (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; 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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