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

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading activity on Wednesday. Stock traders 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.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 170 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the transaction, the chief accounting officer now directly owns 17,360 shares in the company, valued at $6,043,363.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other MongoDB news, CAO Thomas Bull sold 170 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the sale, the chief accounting officer now owns 17,360 shares of the company’s stock, valued at $6,043,363.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dev Ittycheria sold 17,160 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total transaction of $5,973,567.60. Following the sale, the chief executive officer now directly owns 226,073 shares in the company, valued at approximately $78,698,272.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,976 shares of company stock worth $19,525,973. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of MDB. PNC Financial Services Group Inc. increased its position in shares of MongoDB by 7.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,474 shares of the company’s stock valued at $856,000 after buying an additional 166 shares during the period. Clearbridge Investments LLC increased its position in shares of MongoDB by 4.4% during the third quarter. Clearbridge Investments LLC now owns 1,949 shares of the company’s stock valued at $674,000 after buying an additional 82 shares during the period. LPL Financial LLC increased its position in shares of MongoDB by 20.6% during the third quarter. LPL Financial LLC now owns 31,145 shares of the company’s stock valued at $10,772,000 after buying an additional 5,329 shares during the period. Mariner LLC grew its holdings in MongoDB by 10.2% in the third quarter. Mariner LLC now owns 7,047 shares of the company’s stock worth $2,437,000 after purchasing an additional 653 shares during the period. Finally, Northern Trust Corp grew its holdings in MongoDB by 5.5% in the third quarter. Northern Trust Corp now owns 448,035 shares of the company’s stock worth $154,957,000 after purchasing an additional 23,270 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $240.52 on Thursday. The company has a market cap of $17.64 billion, a price-to-earnings ratio of -85.59 and a beta of 1.13. The company has a 50-day moving average price of $307.97 and a 200-day moving average price of $368.31. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90. MongoDB has a 12 month low of $214.74 and a 12 month high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting the consensus estimate of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The firm had revenue of $450.56 million during the quarter, compared to the consensus estimate of $438.44 million. As a group, equities analysts anticipate that MongoDB will post -2.67 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on MDB shares. Oppenheimer cut their price target on shares of MongoDB from $480.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Barclays lowered their target price on shares of MongoDB from $458.00 to $290.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Wells Fargo & Company reduced their price objective on shares of MongoDB from $450.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. DA Davidson raised shares of MongoDB from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 31st. Finally, KeyCorp reduced their target price on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $361.30.

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.