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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. DA Davidson upped their target price on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Barclays increased their price objective on shares of MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. Oppenheimer increased their price target on MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Citigroup boosted their price objective on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $340.29.

Insiders Place Their Bets

In other news, CRO Cedric Pech sold 302 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares in the company, valued at approximately $8,569,000. The trade was a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the sale, the chief accounting officer now directly owns 16,222 shares in the company, valued at $4,589,041.58. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,600 shares of company stock valued at $7,732,589. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently modified their holdings of MDB. Jennison Associates LLC lifted its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares in the last quarter. Swedbank AB increased its stake in shares of MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of MongoDB during the 2nd quarter valued at about $52,131,000. Finally, Avala Global LP purchased a new stake in shares of MongoDB in the third quarter valued at about $47,960,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Performance

NASDAQ MDB opened at $324.60 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The stock’s 50 day simple moving average is $281.84 and its 200-day simple moving average is $271.65. The company has a market cap of $23.98 billion, a PE ratio of -107.48 and a beta of 1.15. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The company had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same quarter last year, the firm posted ($0.63) EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts anticipate that MongoDB will post -2.39 EPS for the current fiscal year.

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.