Traders Buy Large Volume of MongoDB Call Options (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading on Wednesday. Investors purchased 36,130 call options on the company. This is an increase of 2,077% compared to the typical daily volume of 1,660 call options.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, September 9th. The shares were sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the sale, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Lawrence Gordon sold 1,884 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $482,775.00. Following the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at $20,578,668.75. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $7,442,189 in the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MDB. Aigen Investment Management LP purchased a new position in MongoDB in the third quarter valued at $1,045,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in MongoDB in the third quarter valued at approximately $4,366,000. Sanctuary Advisors LLC purchased a new stake in shares of MongoDB in the 2nd quarter valued at approximately $1,860,000. Charles Schwab Investment Management Inc. raised its holdings in shares of MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after purchasing an additional 7,575 shares in the last quarter. Finally, Sycomore Asset Management lifted its position in shares of MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock worth $12,884,000 after purchasing an additional 24,827 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Performance

MongoDB stock opened at $324.60 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The stock’s 50 day simple moving average is $282.65 and its two-hundred day simple moving average is $272.02. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. During the same period last year, the firm posted ($0.63) earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts expect that MongoDB will post -2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDB. Oppenheimer increased their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Bank of America lifted their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company increased their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Mizuho boosted their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.29.

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.