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

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

Insider Transactions at MongoDB

In related news, CAO Thomas Bull sold 169 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the transaction, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This represents a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total value of $713,190.00. Following the completion of the sale, the director now directly owns 1,117,006 shares in the company, valued at approximately $265,545,836.38. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,161 shares of company stock valued at $8,427,806 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several hedge funds have recently modified their holdings of the stock. Quarry LP grew its holdings in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of MongoDB during the third quarter worth $36,000. GAMMA Investing LLC increased its holdings in MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares during the last quarter. Continuum Advisory LLC increased its holdings in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. Finally, Asset Dedication LLC acquired a new stake in MongoDB in the second quarter valued at $41,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

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

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

Analyst Ratings Changes

Several research firms recently weighed in on MDB. Truist Financial restated a “buy” rating and set a $400.00 price target (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Robert W. Baird lifted their price target on MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Barclays raised their price objective on MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt cut shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price for the company. in a research report on Monday, December 16th. Finally, Morgan Stanley upped their price objective on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $367.14.

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.