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

Key Points

• MongoDB, Inc. saw an extraordinary spike in options trading, with investors purchasing 36,130 call options, reflecting a 2,077% increase over usual volumes.
• The company's stock is currently valued at $312.88 per share, down 1.7%, with recent earnings reports showing a revenue increase of 21.8% year-over-year.
• Several analysts have upgraded their price targets for MongoDB, with recommendations reflecting strong confidence in the stock, leading to an average target of $310.86.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders acquired 36,130 call options on the company. Thisisanincreaseof2,077% compared to the typical daily volume of 1,660 call options.

Insider Transactions at MongoDB

In related news, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 33,320 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the completion of the transaction, the chief executive officer directly owned 203,237 shares of the company's stock, valued at approximately $61,233,275.73. This trade represents 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 58,730 shares of company stock valued at $15,966,159. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently made changes to their positions in the company. Main Management ETF Advisors LLC raised its holdings in MongoDB by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the company's stock worth $770,000 after buying an additional 60 shares during the period. Carnegie Investment Counsel boosted its holdings in shares of MongoDB by 3.6% in the second quarter. Carnegie Investment Counsel now owns 1,803 shares of the company's stock valued at $379,000 after buying an additional 62 shares during the period. Handelsbanken Fonder AB increased its position in shares of MongoDB by 0.4% during the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock worth $2,599,000 after acquiring an additional 65 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of MongoDB by 6.2% during the second quarter. New York Life Investment Management LLC now owns 1,236 shares of the company's stock worth $260,000 after acquiring an additional 72 shares in the last quarter. Finally, Wedbush Securities Inc. raised its holdings in shares of MongoDB by 2.6% during the first quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock worth $530,000 after acquiring an additional 77 shares during the period. Institutional investors own 89.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $345.00 price objective on shares of MongoDB in a report on Wednesday, August 27th. Citigroup increased their price target on shares of MongoDB from $405.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Truist Financial lifted their price objective on MongoDB from $275.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Needham & Company LLC increased their target price on MongoDB from $270.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Finally, Wolfe Research raised their target price on MongoDB from $280.00 to $350.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and an average price target of $310.86.

MongoDB Trading Up 2.9%

Shares of MongoDB stock traded up $9.17 during trading on Thursday, reaching $322.05. The company's stock had a trading volume of 2,747,546 shares, compared to its average volume of 2,536,418. The stock has a 50-day moving average price of $231.73 and a two-hundred day moving average price of $208.01. The stock has a market capitalization of $26.32 billion, a P/E ratio of -328.62 and a beta of 1.49. MongoDB has a one year low of $140.78 and a one year high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The company's revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

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.