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

by · The Cerbat Gem

MongoDB, Inc. (NASDAQ:MDB – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 36,130 call options on the stock. This represents an increase of approximately 2,077% compared to the average volume of 1,660 call options.

MongoDB Stock Performance

Shares of MDB opened at $190.06 on Thursday. The company has a 50 day moving average price of $253.21 and a 200-day moving average price of $270.89. MongoDB has a fifty-two week low of $173.13 and a fifty-two week high of $387.19. The stock has a market capitalization of $14.15 billion, a PE ratio of -69.36 and a beta of 1.30.

MongoDB (NASDAQ:MDB – Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the prior year, the company earned $0.86 EPS. Equities research analysts forecast that MongoDB will post -1.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Mizuho upped their price target on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Monday, January 6th. Canaccord Genuity Group dropped their price target on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada decreased their price objective on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $240.00 price objective (down from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $320.70.

View Our Latest Stock Analysis on MDB

Insider Activity

In other news, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,139 shares of company stock worth $11,328,869 over the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in MongoDB by 2.7% in the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after acquiring an additional 160 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of MongoDB by 6.6% during the 3rd quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock valued at $588,000 after purchasing an additional 135 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of MongoDB by 38.0% in the 3rd quarter. GSA Capital Partners LLP now owns 1,598 shares of the company’s stock worth $432,000 after purchasing an additional 440 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in MongoDB by 18.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,005 shares of the company’s stock worth $272,000 after buying an additional 153 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in MongoDB by 4.6% during the 3rd quarter. CIBC Asset Management Inc now owns 14,717 shares of the company’s stock valued at $3,979,000 after buying an additional 653 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Company Profile

(Get Free Report)

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.

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