Investors Purchase High Volume of Call Options on MongoDB (NASDAQ:MDB)

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

Insider Activity

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $265.00, for a total value of $265,000.00. Following the completion of the sale, the director now directly owns 1,116,006 shares of the company’s stock, valued at $295,741,590. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,857 shares of company stock valued at $9,613,306 in the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB in the fourth quarter worth $29,000. Hilltop National Bank grew its holdings in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. NCP Inc. purchased a new position in MongoDB in the 4th quarter worth approximately $35,000. Continuum Advisory LLC increased its stake in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after purchasing an additional 165 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MDB has been the subject of several recent research reports. Needham & Company LLC decreased their target price on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Mizuho raised their target price on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Canaccord Genuity Group decreased their price target on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Cantor Fitzgerald initiated coverage on MongoDB in a research note on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price objective on the stock. Finally, Stifel Nicolaus cut their price objective on shares of MongoDB from $425.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.84.

MongoDB Price Performance

MongoDB stock opened at $180.19 on Thursday. MongoDB has a one year low of $170.66 and a one year high of $387.19. The firm has a market capitalization of $14.63 billion, a P/E ratio of -65.76 and a beta of 1.30. The business has a fifty day moving average price of $240.77 and a 200-day moving average price of $263.72.

MongoDB (NASDAQ:MDB) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share 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 company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the previous year, the firm earned $0.86 EPS. Sell-side analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

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.