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

MongoDB, Inc. (NASDAQ:MDB) was the target of unusually large options trading activity 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 Stock Up 1.5%

Shares of MDB opened at $326.29 on Friday. The stock has a market capitalization of $26.55 billion, a P/E ratio of -332.95 and a beta of 1.50. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. The company has a 50 day moving average of $275.53 and a 200-day moving average of $219.62.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of recent analyst reports. DA Davidson upped their price target on MongoDB from $325.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Wall Street Zen raised MongoDB from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Stephens assumed coverage on MongoDB in a research note on Friday, July 18th. They issued an “equal weight” rating and a $247.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and set a $290.00 target price on shares of MongoDB in a research note on Friday, August 22nd. Finally, Wells Fargo & Company assumed coverage on MongoDB in a research note on Tuesday. They set an “overweight” rating and a $430.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $342.69.

Insider Buying and Selling at MongoDB

In related news, Director Peter Thomas Killalea sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $321.87, for a total transaction of $6,437,400.00. Following the transaction, the director owned 32,293 shares in the company, valued at $10,394,147.91. This represents a 38.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total transaction of $384,989.82. Following the transaction, the director owned 24,308 shares in the company, valued at approximately $7,971,322.44. This trade represents a 4.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,163 shares of company stock worth $31,862,322 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Two Sigma Investments LP bought a new position in shares of MongoDB in the fourth quarter valued at $768,000. Versant Capital Management Inc boosted its position in MongoDB by 237.2% during the first quarter. Versant Capital Management Inc now owns 607 shares of the company’s stock worth $106,000 after purchasing an additional 427 shares during the period. GAMMA Investing LLC boosted its position in MongoDB by 19,491.2% during the first quarter. GAMMA Investing LLC now owns 33,501 shares of the company’s stock worth $5,876,000 after purchasing an additional 33,330 shares during the period. Rhumbline Advisers boosted its position in MongoDB by 0.4% during the first quarter. Rhumbline Advisers now owns 97,481 shares of the company’s stock worth $17,098,000 after purchasing an additional 343 shares during the period. Finally, Fulton Bank N.A. boosted its position in MongoDB by 10.9% during the first quarter. Fulton Bank N.A. now owns 1,356 shares of the company’s stock worth $238,000 after purchasing an additional 133 shares during the period. 89.29% of the stock is owned by institutional investors.

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.