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

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

Insider Activity at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $327.93, for a total value of $384,989.82. Following the completion of the sale, the director owned 24,308 shares of the company’s stock, valued at approximately $7,971,322.44. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Thomas Killalea sold 20,000 shares of MongoDB stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $321.87, for a total transaction of $6,437,400.00. Following the transaction, the director directly owned 32,293 shares in the company, valued at approximately $10,394,147.91. This represents a 38.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 91,172 shares of company stock worth $29,794,336. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

MongoDB Price Performance

MongoDB stock opened at $326.27 on Friday. The company has a market cap of $26.55 billion, a price-to-earnings ratio of -332.93 and a beta of 1.52. The firm has a 50-day moving average of $333.22 and a 200-day moving average of $265.92. MongoDB has a one year low of $140.78 and a one year high of $385.44.

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

Analyst Ratings Changes

MDB has been the subject of several recent analyst reports. Robert W. Baird increased their price target on MongoDB from $260.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, August 27th. Oppenheimer increased their target price on MongoDB from $325.00 to $385.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Monness Crespi & Hardt raised their target price on shares of MongoDB from $295.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. JMP Securities upped their price target on shares of MongoDB from $345.00 to $375.00 and gave the company a “market outperform” rating in a report on Friday, September 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MongoDB in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $355.39.

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.