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

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading on Wednesday. Stock traders acquired 36,130 call options on the stock. This is an increase of 2,077% compared to the average daily volume of 1,660 call options.

MongoDB Stock Performance

MDB stock opened at $243.00 on Thursday. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The company has a market capitalization of $18.10 billion, a P/E ratio of -88.69 and a beta of 1.17. The company has a fifty day moving average price of $289.29 and a 200-day moving average price of $268.01.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period last year, the company earned $0.96 EPS. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, sell-side analysts forecast that MongoDB will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 3,556 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $911,225.00. Following the completion of the sale, the chief executive officer now directly owns 219,875 shares in the company, valued at approximately $56,342,968.75. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the transaction, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,775 shares of company stock valued at $9,264,812. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its holdings in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Geode Capital Management LLC increased its position in shares of MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the period. Westfield Capital Management Co. LP raised its stake in MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after buying an additional 7,526 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares during the period. Finally, Holocene Advisors LP boosted its position in MongoDB by 22.6% during the third quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after acquiring an additional 66,730 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on MDB. Truist Financial restated a “buy” rating and issued a $400.00 price target (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Canaccord Genuity Group raised their target price on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Scotiabank upped their price target on shares of MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Macquarie initiated coverage on shares of MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price objective on the stock. Finally, Mizuho boosted their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.14.

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.