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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading activity on Wednesday. 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.

MongoDB Price Performance

MongoDB stock opened at $180.19 on Thursday. MongoDB has a one year low of $170.66 and a one year high of $387.19. The business’s fifty day moving average is $240.77 and its 200 day moving average is $263.72. The stock has a market capitalization of $14.63 billion, a PE ratio of -65.76 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the previous year, the business earned $0.86 EPS. As a group, sell-side analysts expect that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at $60,840,147.06. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the transaction, the director now directly owns 83,845 shares in the company, valued at $24,486,932.25. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,857 shares of company stock worth $9,613,306. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. Vanguard Group Inc. grew its holdings in shares of MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after acquiring an additional 23,942 shares during the period. Franklin Resources Inc. boosted its position in MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares during the period. First Trust Advisors LP increased its position in shares of MongoDB by 12.6% during the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after purchasing an additional 95,893 shares during the last quarter. Finally, Norges Bank bought a new position in shares of MongoDB in the 4th quarter worth approximately $189,584,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDB has been the topic of several analyst reports. Barclays decreased their target price on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Oppenheimer lowered their price objective on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Macquarie dropped their target price on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Canaccord Genuity Group reduced their price target on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Truist Financial dropped their price objective on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.84.

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.