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

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

MongoDB Price Performance

Shares of NASDAQ MDB opened at $295.00 on Thursday. The stock has a market capitalization of $21.97 billion, a P/E ratio of -107.66 and a beta of 1.28. MongoDB has a one year low of $212.74 and a one year high of $459.78. The firm’s 50 day simple moving average is $261.56 and its two-hundred day simple moving average is $273.13.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 EPS. As a group, equities analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,094 shares of company stock valued at $11,705,293. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in MongoDB in the fourth quarter valued at approximately $189,584,000. 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 valued at $838,632,000 after buying an additional 592,038 shares during the last quarter. Marshall Wace LLP purchased a new stake in MongoDB during the 4th quarter valued at $110,356,000. Raymond James Financial Inc. purchased a new position in shares of MongoDB in the fourth quarter valued at about $90,478,000. Finally, D1 Capital Partners L.P. bought a new position in shares of MongoDB during the fourth quarter valued at about $76,129,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on MDB. China Renaissance began coverage on MongoDB in a research note on Tuesday, January 21st. They set a “buy” rating and a $351.00 price target for the company. Canaccord Genuity Group increased their target price on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Barclays lowered their price target on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Stifel Nicolaus raised their price objective on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Rosenblatt Securities assumed coverage on shares of MongoDB in a research note on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

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.