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

MongoDB, Inc. (NASDAQ:MDB) was the recipient of unusually large options trading on Wednesday. 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of MongoDB from $305.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Bank of America raised their price target on shares of MongoDB from $345.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $385.00 price target on shares of MongoDB in a report on Tuesday. Monness Crespi & Hardt increased their price objective on MongoDB from $295.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Finally, Cantor Fitzgerald lifted their price objective on MongoDB from $312.00 to $406.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $355.39.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $338.52, for a total transaction of $3,385,200.00. Following the sale, the director owned 1,055,316 shares of the company’s stock, valued at approximately $357,245,572.32. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter Thomas Killalea sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $321.87, for a total value of $6,437,400.00. Following the completion of the transaction, the director owned 32,293 shares of the company’s stock, valued at approximately $10,394,147.91. This represents a 38.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,172 shares of company stock worth $29,794,336 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently modified their holdings of the company. Huntington National Bank raised its holdings in shares of MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. Montag A & Associates Inc. grew its position in MongoDB by 144.3% during the second quarter. Montag A & Associates Inc. now owns 171 shares of the company’s stock valued at $36,000 after acquiring an additional 101 shares during the last quarter. Promus Capital LLC purchased a new position in shares of MongoDB during the second quarter worth approximately $36,000. TD Private Client Wealth LLC lifted its holdings in shares of MongoDB by 2,825.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock worth $36,000 after acquiring an additional 113 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in shares of MongoDB in the 3rd quarter worth approximately $37,000. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Performance

MongoDB stock opened at $326.27 on Thursday. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $385.44. The stock has a market cap of $26.55 billion, a P/E ratio of -332.93 and a beta of 1.52. The firm’s fifty day moving average price is $333.02 and its 200-day moving average price is $265.50.

MongoDB (NASDAQ:MDB) last released its earnings results on Tuesday, August 26th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.04). MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. The firm had revenue of $591.40 million during the quarter, compared to the consensus estimate of $553.23 million. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, analysts predict that MongoDB will post -1.78 earnings per share for the current year.

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.