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

Key Points

• Traders purchased 36,130 call options on MongoDB on Wednesday — about a 2,077% increase versus the typical daily call volume of 1,660, signaling unusually heavy bullish options activity.
• Sell-side analysts maintain a consensus rating of Moderate Buy with an average price target of $360.03, though several firms trimmed targets in early March (e.g., BMO to $340, Canaccord to $375, Stifel to $330).
• MongoDB beat the quarter's estimates with EPS of $1.65 versus $1.47 expected and revenue of $695.07M versus $669.40M (revenue +26.8% YoY), but the company still reports a negative net margin and negative return on equity.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw some unusual options trading activity on Wednesday. Traders purchased 36,130 call options on the stock. This is an increase of approximately 2,077% compared to the typical daily volume of 1,660 call options.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BMO Capital Markets restated an "outperform" rating and set a $340.00 target price (down from $400.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Guggenheim reiterated a "buy" rating and issued a $475.00 price target on shares of MongoDB in a research report on Tuesday, March 3rd. Canaccord Genuity Group decreased their price objective on MongoDB from $455.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Bank of America restated a "buy" rating on shares of MongoDB in a research note on Tuesday, March 3rd. Finally, Stifel Nicolaus cut their target price on MongoDB from $450.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Twenty-seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $360.03.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,190 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total transaction of $440,002.50. Following the sale, the director directly owned 80,462 shares in the company, valued at approximately $29,750,824.50. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 19,383 shares of company stock valued at $7,910,983 over the last 90 days. Insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division purchased a new position in MongoDB in the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC increased its holdings in shares of MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after buying an additional 61 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of MongoDB during the 4th quarter valued at $33,000. Root Financial Partners LLC lifted its holdings in shares of MongoDB by 58.2% during the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company's stock worth $37,000 after acquiring an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in shares of MongoDB during the 4th quarter worth $38,000. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Performance

MongoDB stock opened at $249.36 on Thursday. The stock has a market cap of $20.04 billion, a P/E ratio of -283.36 and a beta of 1.60. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $444.72. The firm's fifty day moving average price is $314.65 and its 200-day moving average price is $347.72.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. During the same quarter last year, the company earned $1.28 earnings per share. The firm's quarterly revenue was up 26.8% on a year-over-year basis. Sell-side analysts predict that MongoDB will post -1.78 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.