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

MongoDB, Inc. (NASDAQ:MDB) 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) 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.

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

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.