Stock Traders Purchase Large Volume of Call Options on MongoDB (NASDAQ:MDB)

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

Analysts Set New Price Targets

MDB has been the topic of a number of research analyst reports. Barclays upped their target price on MongoDB from $252.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. Needham & Company LLC restated a "buy" rating and issued a $270.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Guggenheim upped their target price on MongoDB from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Wedbush restated an "outperform" rating and issued a $300.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Finally, KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and an average target price of $282.47.

MongoDB Price Performance

Shares of MDB stock opened at $206.76 on Thursday. The stock has a market capitalization of $16.89 billion, a PE ratio of -181.37 and a beta of 1.39. MongoDB has a 1-year low of $140.78 and a 1-year high of $370.00. The business has a 50-day moving average of $188.81 and a 200 day moving average of $219.23.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results 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 company had revenue of $549.01 million during 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%. MongoDB's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. Analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In related news, CAO Thomas Bull sold 301 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the sale, the director now directly owns 21,096 shares in the company, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,382 shares of company stock valued at $10,403,807. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently bought and sold shares of MDB. Jericho Capital Asset Management L.P. purchased a new stake in MongoDB during the 1st quarter valued at about $161,543,000. Norges Bank purchased a new stake in MongoDB in the 4th quarter worth approximately $189,584,000. Primecap Management Co. CA lifted its holdings in MongoDB by 863.5% in the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after buying an additional 780,200 shares during the period. Westfield Capital Management Co. LP purchased a new stake in MongoDB in the 1st quarter worth approximately $128,706,000. Finally, Vanguard Group Inc. lifted its holdings in MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock worth $1,369,833,000 after buying an additional 481,023 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.