MongoDB Sees Unusually High Options Volume (NASDAQ:MDB)

Key Points

• MongoDB saw unusually heavy options activity, with investors buying 36,130 call options on Wednesday — roughly 2,077% above its average volume of 1,660 calls.
• Insiders have been selling shares, including Director Dwight A. Merriman and Hope F. Cochran, with total insider sales over the last three months amounting to 15,566 shares worth about $3.88 million.
• The company recently beat earnings expectations, reporting EPS of $1.65 versus the $1.47 estimate and revenue of $695.07 million, while analysts currently maintain a consensus “Moderate Buy” rating with an average target price of $363.58.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock investors bought 36,130 call options on the company. This is an increase of approximately 2,077% compared to the average volume of 1,660 call options.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 8,000 shares of the firm's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $236.89, for a total value of $1,895,120.00. Following the transaction, the director owned 1,005,316 shares of the company's stock, valued at approximately $238,149,307.24. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the transaction, the director directly owned 24,093 shares in the company, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 15,566 shares of company stock worth $3,875,011. 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 stock. Cramer Rosenthal Mcglynn LLC increased its stake in MongoDB by 897.7% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company's stock valued at $17,938,000 after purchasing an additional 52,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of MongoDB by 1,277.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company's stock worth $5,655,000 after acquiring an additional 16,896 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of MongoDB by 42.1% during the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company's stock worth $41,910,000 after acquiring an additional 39,978 shares during the last quarter. Pinegrove Venture Partners LLC bought a new position in shares of MongoDB during the third quarter worth about $1,032,000. Finally, Kinetic Partners Management LP grew its position in shares of MongoDB by 27.2% during the third quarter. Kinetic Partners Management LP now owns 195,769 shares of the company's stock worth $60,763,000 after acquiring an additional 41,810 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

MDB opened at $302.94 on Thursday. The stock has a market capitalization of $24.35 billion, a PE ratio of -344.25 and a beta of 1.48. The firm's fifty day moving average price is $260.14 and its 200 day moving average price is $336.15. MongoDB has a 12-month low of $182.43 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $695.07 million for the quarter, compared to analysts' expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. On average, equities research analysts forecast that MongoDB will post -0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of recent research reports. Stifel Nicolaus reduced their target price on shares of MongoDB from $450.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Piper Sandler reduced their target price on shares of MongoDB from $490.00 to $330.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. UBS Group reduced their target price on shares of MongoDB from $440.00 to $275.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 3rd. The Goldman Sachs Group reduced their target price on shares of MongoDB from $475.00 to $320.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $425.00 target price on shares of MongoDB in a research report on Monday, March 2nd. Twenty-six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $363.58.

MongoDB Company Profile

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.

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