MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

Key Points

• MongoDB's stock experienced a significant spike in options trading, with traders acquiring 36,130 call options, marking an increase of about 2,077% compared to its average volume.
• Insider selling has been notable, with Director Dwight A. Merriman and CEO Dev Ittycheria recently selling a combined total of over 58,000 shares, indicating a decrease in their ownership stakes.
• Major institutional investors, including Vanguard Group and AQR Capital Management, have increased their holdings in MongoDB, highlighting continued interest from hedge funds and other institutional investors.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders 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 news, Director Dwight A. Merriman sold 25,000 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $320.15, for a total value of $8,003,750.00. Following the transaction, the director directly owned 1,079,316 shares in the company, valued at approximately $345,543,017.40. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 33,320 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the completion of the transaction, the chief executive officer owned 203,237 shares in the company, valued at approximately $61,233,275.73. The trade was a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,163 shares of company stock valued at $31,862,322. Insiders own 3.10% of the company's stock.

Institutional Trading of MongoDB

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of MongoDB by 9.5% during the second quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company's stock valued at $1,796,321,000 after buying an additional 744,547 shares during the last quarter. State Street Corp raised its position in shares of MongoDB by 5.0% in the 2nd quarter. State Street Corp now owns 1,693,194 shares of the company's stock valued at $355,554,000 after purchasing an additional 80,334 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MongoDB by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,397,898 shares of the company's stock valued at $292,597,000 after purchasing an additional 68,611 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of MongoDB by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company's stock valued at $223,011,000 after purchasing an additional 129,451 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of MongoDB by 2,567.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock valued at $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Performance

MDB stock opened at $321.53 on Thursday. The firm has a market cap of $26.16 billion, a price-to-earnings ratio of -328.09 and a beta of 1.50. The firm has a 50-day simple moving average of $273.70 and a two-hundred day simple moving average of $218.70. MongoDB has a one year low of $140.78 and a one year high of $370.00.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MDB shares. Truist Financial upped their price target on shares of MongoDB from $330.00 to $375.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Wells Fargo & Company began coverage on shares of MongoDB in a research note on Tuesday. They issued an "overweight" rating and a $430.00 price objective for the company. Macquarie upped their price objective on shares of MongoDB from $265.00 to $305.00 and gave the stock a "neutral" rating in a research note on Thursday, September 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of MongoDB in a research note on Thursday, September 18th. Finally, Stifel Nicolaus upped their price objective on shares of MongoDB from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and a consensus target price of $342.69.

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.

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