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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw some unusual options trading on Wednesday. Stock investors acquired 36,130 call options on the company. This represents an increase of approximately 2,077% compared to the typical daily volume of 1,660 call options.

Insider Activity

In related news, CEO Dev Ittycheria sold 25,005 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the sale, the chief executive officer owned 256,974 shares of the company's stock, valued at approximately $60,131,916. The trade was a 8.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the completion of the sale, the director directly owned 1,107,006 shares of the company's stock, valued at approximately $259,039,404. The trade was a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,746 shares of company stock worth $7,725,196 in the last 90 days. Company insiders own 3.10% of the company's stock.

Institutional Trading of MongoDB

Institutional investors have recently added to or reduced their stakes in the business. NorthRock Partners LLC purchased a new stake in shares of MongoDB during the second quarter valued at $272,000. Yousif Capital Management LLC bought a new position in shares of MongoDB during the 2nd quarter valued at $209,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of MongoDB by 4.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,354 shares of the company's stock valued at $691,000 after buying an additional 158 shares during the period. CWM LLC lifted its holdings in shares of MongoDB by 370.4% during the 2nd quarter. CWM LLC now owns 16,967 shares of the company's stock valued at $3,563,000 after buying an additional 13,360 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of MongoDB by 4.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,934 shares of the company's stock valued at $1,669,000 after buying an additional 334 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Performance

Shares of NASDAQ MDB traded up $6.21 during trading hours on Friday, hitting $241.37. The company's stock had a trading volume of 3,587,641 shares, compared to its average volume of 2,301,063. The business has a 50-day simple moving average of $205.47 and a 200-day simple moving average of $212.72. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of -211.73 and a beta of 1.41. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. On average, equities research analysts forecast that MongoDB will post -1.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MDB shares. Wolfe Research began coverage on MongoDB in a research report on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 target price on the stock. Scotiabank upped their price target on MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. William Blair reissued an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. Daiwa America raised MongoDB to a "strong-buy" rating in a report on Tuesday, April 1st. Finally, Monness Crespi & Hardt raised MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price objective for the company in a report on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $281.35.

About MongoDB

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.