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

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading activity on Wednesday. Investors acquired 36,130 call options on the company. 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 Dwight A. Merriman sold 1,045 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $242.67, for a total transaction of $253,590.15. Following the transaction, the director now directly owns 85,652 shares in the company, valued at $20,785,170.84. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $60,840,147.06. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,032 shares of company stock worth $9,818,567 in the last quarter. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of MongoDB in the fourth quarter worth $189,584,000. Marshall Wace LLP purchased a new position in shares of MongoDB during the 4th quarter valued at about $110,356,000. Raymond James Financial Inc. bought a new position in shares of MongoDB during the 4th quarter valued at $90,478,000. D1 Capital Partners L.P. purchased a new stake in MongoDB during the 4th quarter valued at about $76,129,000. Finally, Amundi increased its stake in shares of MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after buying an additional 321,186 shares during the period. 89.29% of the stock is owned by institutional investors.

MongoDB Stock Down 9.4 %

Shares of MDB stock opened at $163.34 on Friday. The company’s fifty day simple moving average is $238.83 and its 200-day simple moving average is $263.02. MongoDB has a 12 month low of $158.75 and a 12 month high of $387.19. The firm has a market cap of $13.26 billion, a PE ratio of -59.61 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same quarter in the prior year, the business posted $0.86 EPS. On average, equities analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MDB. Canaccord Genuity Group lowered their price objective on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Robert W. Baird cut their target price on MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. DA Davidson boosted their price objective on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays reduced their price objective on MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Truist Financial dropped their price target on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $312.84.

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.