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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of some unusual options trading on Wednesday. Traders purchased 36,130 call options on the company. This is an increase of 2,077% compared to the average daily volume of 1,660 call options.

Insider Buying and Selling at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $58,121,799.12. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 885 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the sale, the director now owns 83,845 shares in the company, valued at $24,486,932.25. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,139 shares of company stock valued at $11,328,869. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Principal Financial Group Inc. boosted its stake in MongoDB by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after purchasing an additional 160 shares during the last quarter. Atria Investments Inc boosted its stake in MongoDB by 6.6% during the 3rd quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock valued at $588,000 after purchasing an additional 135 shares during the last quarter. GSA Capital Partners LLP boosted its stake in MongoDB by 38.0% during the 3rd quarter. GSA Capital Partners LLP now owns 1,598 shares of the company’s stock valued at $432,000 after purchasing an additional 440 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in MongoDB by 18.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,005 shares of the company’s stock valued at $272,000 after purchasing an additional 153 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in MongoDB by 4.6% during the 3rd quarter. CIBC Asset Management Inc now owns 14,717 shares of the company’s stock valued at $3,979,000 after purchasing an additional 653 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Stock Down 0.4 %

Shares of NASDAQ:MDB opened at $189.30 on Friday. The firm has a market cap of $14.10 billion, a P/E ratio of -69.09 and a beta of 1.30. MongoDB has a 12-month low of $173.13 and a 12-month high of $387.19. The business has a fifty day simple moving average of $252.02 and a 200 day simple moving average of $270.33.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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 business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, equities research analysts expect that MongoDB will post -1.78 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stifel Nicolaus dropped their price objective on MongoDB from $425.00 to $340.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Wedbush dropped their price objective on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. DA Davidson increased their target price on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Cantor Fitzgerald started coverage on MongoDB in a research note on Wednesday, March 5th. They set an “overweight” rating and a $344.00 target price on the stock. Finally, Oppenheimer lowered their target price on MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.70.

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.