MongoDB Sees Unusually Large Options Volume (NASDAQ:MDB)

Key Points

• MongoDB experienced a significant surge in options trading, with 36,130 call options purchased, marking a 2,077% increase from the average volume of 1,660 call options.
• The company's recent quarterly earnings report showed earnings per share of $1.00, exceeding estimates by $0.35, with year-over-year revenue growth of 21.8%.
• Insider selling included CEO Dev Ittycheria offloading 8,335 shares at an average price of $243.89, resulting in a 3.40% decrease in his position in the company.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the target of some unusual options trading on Wednesday. Investors purchased 36,130 call options on the company. Thisrepresentsanincreaseof2,077% compared to the average volume of 1,660 call options.

MongoDB Stock Performance

Shares of MDB stock opened at $235.82 on Thursday. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The stock has a 50 day moving average price of $214.05 and a two-hundred day moving average price of $212.07. The company has a market capitalization of $19.27 billion, a P/E ratio of -206.86 and a beta of 1.44.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. The firm had revenue of $549.01 million during the quarter, compared to the consensus estimate 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 was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share. As a group, equities analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $243.89, for a total value of $2,032,823.15. Following the sale, the chief executive officer directly owned 236,557 shares in the company, valued at approximately $57,693,886.73. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total value of $236,067.92. Following the completion of the sale, the director owned 21,096 shares in the company, valued at $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,416 shares of company stock worth $11,936,656. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in MDB. Cloud Capital Management LLC bought a new position in shares of MongoDB during the first quarter valued at approximately $25,000. Hollencrest Capital Management bought a new position in MongoDB in the first quarter worth $26,000. Cullen Frost Bankers Inc. raised its holdings in MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after purchasing an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in MongoDB in the fourth quarter worth $29,000. Finally, True Wealth Design LLC raised its holdings in MongoDB by 1,193.8% in the second quarter. True Wealth Design LLC now owns 207 shares of the company's stock worth $43,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

MDB has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their target price on MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a report on Friday, April 11th. Macquarie reaffirmed a "neutral" rating and set a $230.00 target price (up previously from $215.00) on shares of MongoDB in a report on Friday, June 6th. Redburn Atlantic raised MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price objective for the company in a report on Thursday, April 17th. JMP Securities reissued a "market outperform" rating and set a $345.00 price objective on shares of MongoDB in a report on Thursday, June 5th. Finally, Mizuho cut their price objective on MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $281.31.

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.

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