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

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDB. Bank of America increased their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. UBS Group boosted their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Barclays lifted their target price on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research report on Friday. Finally, JMP Securities reissued a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $336.54.

MongoDB Trading Down 4.1 %

NASDAQ:MDB traded down $11.82 during trading hours on Friday, hitting $279.77. The company had a trading volume of 1,763,926 shares, compared to its average volume of 1,432,002. 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 has a 50-day moving average price of $278.14 and a 200 day moving average price of $275.57. The company has a market capitalization of $20.67 billion, a PE ratio of -92.64 and a beta of 1.15. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results 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 net margin of 12.08% and a negative return on equity of 15.06%. The firm had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the previous year, the firm posted ($0.63) EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that MongoDB will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Dev Ittycheria sold 3,556 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $911,225.00. Following the sale, the chief executive officer now directly owns 219,875 shares of the company’s stock, valued at approximately $56,342,968.75. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 154 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the transaction, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,281 shares of company stock valued at $6,657,121. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of MongoDB by 1.0% during the first quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock valued at $2,478,475,000 after purchasing an additional 68,348 shares in the last quarter. Jennison Associates LLC increased its position in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares in the last quarter. Swedbank AB raised its stake in MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in MongoDB by 22.4% in the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock worth $197,497,000 after acquiring an additional 100,725 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of MongoDB by 1.5% in the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after acquiring an additional 7,526 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.