Stock Traders Purchase Large Volume of Call Options on MongoDB (NASDAQ:MDB)

18 Oct 2024, 06:26 by Tristan Rich · The Markets Daily

MongoDB, Inc. (NASDAQ:MDB – Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 36,130 call options on the company. This is an increase of approximately 2,077% compared to the typical volume of 1,660 call options.

Insiders Place Their Bets

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $23,313,925.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total transaction of $872,370.00. Following the completion of the transaction, the director now directly owns 1,135,006 shares in the company, valued at $330,048,394.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,281 shares of company stock valued at $6,310,411. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in MongoDB by 12.9% in the first quarter. Advisors Asset Management Inc. now owns 324 shares of the company’s stock valued at $116,000 after acquiring an additional 37 shares during the last quarter. Atria Investments Inc grew its holdings in shares of MongoDB by 1.2% during the 1st quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock valued at $1,169,000 after purchasing an additional 39 shares during the last quarter. Taylor Frigon Capital Management LLC grew its holdings in shares of MongoDB by 0.4% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock valued at $2,475,000 after purchasing an additional 42 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of MongoDB by 7.6% during the 2nd quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock valued at $155,000 after purchasing an additional 44 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its position in MongoDB by 3.2% during the 1st quarter. Moody National Bank Trust Division now owns 1,492 shares of the company’s stock valued at $535,000 after buying an additional 46 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Trading Down 2.3 %

MDB opened at $271.87 on Friday. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market cap of $19.94 billion, a P/E ratio of -96.75 and a beta of 1.15. The company has a fifty day moving average price of $269.54 and a two-hundred day moving average price of $285.99.

MongoDB (NASDAQ:MDB – Get Free Report) last posted its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.63) earnings per share. Analysts predict that MongoDB will post -2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MDB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. Morgan Stanley increased their price target on shares of MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Sanford C. Bernstein lifted their price objective on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Wells Fargo & Company raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Needham & Company LLC lifted their price target on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $337.96.

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