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

MongoDB, Inc. (NASDAQ:MDB) saw unusually large options trading activity on Wednesday. Investors purchased 36,130 call options on the stock. This represents an increase of 2,077% compared to the typical volume of 1,660 call options.

MongoDB Trading Up 1.1 %

MongoDB stock opened at $248.68 on Thursday. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The firm has a market cap of $18.52 billion, a P/E ratio of -90.76 and a beta of 1.25. The firm has a 50-day moving average of $283.52 and a 200-day moving average of $269.30.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 EPS. Research analysts forecast that MongoDB will post -1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MDB shares. Monness Crespi & Hardt lowered MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target on the stock. in a research note on Monday, December 16th. Barclays increased their target price on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a report on Wednesday, December 11th. Truist Financial restated a “buy” rating and issued a $400.00 target price (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Finally, Loop Capital increased their target price on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $367.14.

Insider Transactions at MongoDB

In other news, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,161 shares of company stock worth $8,427,806. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Private Advisor Group LLC boosted its stake in MongoDB by 167.4% during the 2nd quarter. Private Advisor Group LLC now owns 6,324 shares of the company’s stock valued at $1,581,000 after purchasing an additional 3,959 shares during the last quarter. Asset Dedication LLC purchased a new position in shares of MongoDB during the 2nd quarter worth $41,000. Acadian Asset Management LLC boosted its stake in MongoDB by 1,677.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,679 shares of the company’s stock worth $916,000 after purchasing an additional 3,472 shares during the period. Quest Partners LLC purchased a new stake in MongoDB during the 2nd quarter valued at approximately $160,000. Finally, Wedbush Securities Inc. lifted its holdings in shares of MongoDB by 20.7% in the second quarter. Wedbush Securities Inc. now owns 2,739 shares of the company’s stock worth $685,000 after buying an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.