Traders Buy Large Volume of Call Options on MongoDB (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading on Wednesday. Traders purchased 36,130 call options on the stock. This represents an increase of approximately 2,077% compared to the typical daily volume of 1,660 call options.

Insiders Place Their Bets

In other news, Director Peter Thomas Killalea sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $321.87, for a total value of $6,437,400.00. Following the sale, the director directly owned 32,293 shares in the company, valued at approximately $10,394,147.91. This trade represents a 38.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total transaction of $384,989.82. Following the transaction, the director owned 24,308 shares of the company’s stock, valued at approximately $7,971,322.44. This trade represents a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 91,172 shares of company stock worth $29,794,336. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently made changes to their positions in MDB. Cetera Investment Advisers increased its holdings in MongoDB by 35.7% in the first quarter. Cetera Investment Advisers now owns 19,424 shares of the company’s stock valued at $3,407,000 after buying an additional 5,108 shares in the last quarter. Assetmark Inc. grew its position in shares of MongoDB by 13.6% during the 1st quarter. Assetmark Inc. now owns 28,703 shares of the company’s stock valued at $5,035,000 after acquiring an additional 3,436 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of MongoDB in the 1st quarter valued at about $1,597,000. TD Asset Management Inc raised its holdings in MongoDB by 0.7% in the 1st quarter. TD Asset Management Inc now owns 60,052 shares of the company’s stock worth $10,533,000 after purchasing an additional 419 shares during the period. Finally, LPL Financial LLC boosted its position in MongoDB by 30.4% during the first quarter. LPL Financial LLC now owns 47,830 shares of the company’s stock worth $8,389,000 after purchasing an additional 11,160 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Performance

NASDAQ:MDB opened at $326.27 on Thursday. The firm’s fifty day moving average is $333.02 and its two-hundred day moving average is $265.50. The firm has a market cap of $26.55 billion, a price-to-earnings ratio of -332.93 and a beta of 1.52. MongoDB has a one year low of $140.78 and a one year high of $385.44.

MongoDB (NASDAQ:MDB) last issued its earnings results on Tuesday, August 26th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.04). MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The company had revenue of $591.40 million during the quarter, compared to analysts’ expectations of $553.23 million. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, equities research analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDB has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $375.00 price objective on MongoDB in a research report on Tuesday, November 4th. Wedbush upped their price objective on shares of MongoDB from $300.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Robert W. Baird lifted their target price on shares of MongoDB from $260.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. Wolfe Research boosted their target price on shares of MongoDB from $280.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Finally, BMO Capital Markets upped their price target on shares of MongoDB from $365.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $355.39.

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.