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. Investors purchased 36,130 call options on the company. This represents an increase of approximately 2,077% compared to the typical volume of 1,660 call options.

Insider Activity at MongoDB

In other MongoDB news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the transaction, the director now directly owns 83,845 shares in the company, valued at $24,486,932.25. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,979 shares of company stock worth $11,963,757 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of hedge funds have recently bought and sold shares of MDB. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB during the fourth quarter valued at about $29,000. Hilltop National Bank increased its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the period. Brooklyn Investment Group acquired a new position in MongoDB in the 3rd quarter valued at approximately $36,000. Continuum Advisory LLC lifted its position in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the period. Finally, NCP Inc. acquired a new stake in shares of MongoDB during the 4th quarter worth approximately $35,000. 89.29% of the stock is owned by institutional investors.

MongoDB Stock Performance

NASDAQ MDB opened at $290.00 on Friday. The stock has a 50-day simple moving average of $261.59 and a 200 day simple moving average of $273.25. MongoDB has a twelve month low of $212.74 and a twelve month high of $459.70. The stock has a market capitalization of $21.60 billion, a PE ratio of -105.84 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. As a group, equities research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on MDB. Piper Sandler restated an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Truist Financial restated a “buy” rating and set a $400.00 price target (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Robert W. Baird lifted their target price on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, KeyCorp upped their price target on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $361.00.

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.