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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 36,130 call options on the company. This represents an increase of 2,077% compared to the typical volume of 1,660 call options.

Analyst Upgrades and Downgrades

MDB has been the subject of several recent research reports. Cantor Fitzgerald boosted their price objective on MongoDB from $252.00 to $271.00 and gave the company an “overweight” rating in a report on Thursday, June 5th. Canaccord Genuity Group decreased their price target on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. JMP Securities restated a “market outperform” rating and set a $345.00 price objective on shares of MongoDB in a report on Thursday, June 5th. Scotiabank lifted their price objective on shares of MongoDB from $160.00 to $230.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Finally, Macquarie reissued a “neutral” rating and set a $230.00 target price (up from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $282.47.

MongoDB Trading Down 1.1%

Shares of NASDAQ MDB opened at $210.60 on Thursday. The stock has a fifty day simple moving average of $179.38 and a two-hundred day simple moving average of $227.94. MongoDB has a 1-year low of $140.78 and a 1-year high of $370.00. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of -76.86 and a beta of 1.39.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter in the prior year, the company earned $0.51 EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. Analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other MongoDB news, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the sale, the insider now directly owns 57,634 shares in the company, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hope F. Cochran sold 1,175 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the transaction, the director now owns 19,333 shares in the company, valued at $3,377,281.77. This represents a 5.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,208 shares of company stock worth $10,167,739. Company insiders own 3.10% of the company’s stock.

Institutional Trading of MongoDB

A number of institutional investors have recently modified their holdings of MDB. HighTower Advisors LLC raised its holdings in MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after acquiring an additional 372 shares during the period. Jones Financial Companies Lllp grew its position in shares of MongoDB by 68.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company’s stock valued at $237,000 after purchasing an additional 413 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of MongoDB by 56.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock valued at $87,000 after purchasing an additional 134 shares during the period. 111 Capital purchased a new stake in MongoDB during the 4th quarter worth about $390,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in MongoDB by 12.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,168 shares of the company’s stock worth $272,000 after purchasing an additional 133 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

About MongoDB

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.