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

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading activity on Wednesday. Stock investors purchased 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.

Insider Activity

In related news, insider Cedric Pech sold 287 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 2,581 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $604,186.29. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at $50,866,352.46. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,094 shares of company stock valued at $11,705,293. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in MongoDB in the fourth quarter valued at about $189,584,000. Jennison Associates LLC raised its stake in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Marshall Wace LLP acquired a new position in MongoDB in the fourth quarter valued at about $110,356,000. Raymond James Financial Inc. acquired a new position in MongoDB in the fourth quarter valued at about $90,478,000. Finally, D1 Capital Partners L.P. acquired a new position in MongoDB in the fourth quarter valued at about $76,129,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a report on Wednesday, December 11th. Loop Capital raised their target price on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Needham & Company LLC raised their target price on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Mizuho raised their target price on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Scotiabank lowered their price objective on shares of MongoDB from $350.00 to $275.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Price Performance

MDB stock opened at $295.00 on Thursday. MongoDB has a one year low of $212.74 and a one year high of $459.78. The stock has a market cap of $21.97 billion, a price-to-earnings ratio of -107.66 and a beta of 1.28. The company has a fifty day moving average price of $261.56 and a two-hundred day moving average price of $273.13.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter last year, the firm earned $0.96 earnings per share. The company’s revenue was up 22.3% on a year-over-year basis. Research analysts anticipate that MongoDB will post -1.78 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.