Traders Purchase High Volume of MongoDB Call Options (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.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $290.06, for a total value of $580,120.00. Following the sale, the director owned 1,003,316 shares in the company, valued at approximately $291,021,838.96. This represents a 0.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 15,566 shares of company stock worth $3,875,011. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MDB. ValueAct Holdings L.P. increased its stake in MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after acquiring an additional 1,427,700 shares during the last quarter. Norges Bank bought a new position in MongoDB in the fourth quarter valued at $574,821,000. AQR Capital Management LLC increased its stake in MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after acquiring an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. increased its stake in MongoDB by 162.1% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after acquiring an additional 852,540 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in MongoDB by 162.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after acquiring an additional 678,746 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of MDB stock opened at $302.94 on Thursday. MongoDB has a 52-week low of $182.43 and a 52-week high of $444.72. The company has a market capitalization of $24.35 billion, a PE ratio of -344.25 and a beta of 1.48. The business’s fifty day moving average is $260.14 and its 200 day moving average is $336.15.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. On average, sell-side analysts forecast that MongoDB will post -0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on MDB. Wedbush dropped their target price on MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Oppenheimer dropped their target price on MongoDB from $425.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Stifel Nicolaus lowered their price objective on MongoDB from $450.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Barclays lowered their price objective on MongoDB from $440.00 to $370.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Finally, UBS Group lowered their price objective on MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Twenty-six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $363.58.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.