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

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

Insider Activity

In other news, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 820 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the sale, the director directly owned 1,106,186 shares of the company's stock, valued at $233,228,256.24. This represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,746 shares of company stock valued at $7,500,196 in the last three months. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC boosted its position in shares of MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock worth $4,371,000 after buying an additional 372 shares during the period. Jones Financial Companies Lllp boosted its position in shares of MongoDB by 68.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company's stock worth $237,000 after buying an additional 413 shares during the period. 111 Capital purchased a new stake in shares of MongoDB in the fourth quarter worth about $390,000. Park Avenue Securities LLC boosted its position in shares of MongoDB by 52.6% in the first quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock worth $461,000 after buying an additional 907 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of MongoDB by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock worth $1,359,000 after buying an additional 298 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $320.00 price target on shares of MongoDB in a report on Thursday, June 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of MongoDB in a report on Thursday, June 5th. Truist Financial reduced their price objective on MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, March 31st. Piper Sandler lifted their price objective on MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Finally, Citigroup reduced their price objective on MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $282.39.

MongoDB Price Performance

MDB stock traded down $6.76 during trading on Friday, reaching $202.51. 1,692,989 shares of the stock traded hands, compared to its average volume of 1,976,296. The business's 50 day moving average price is $199.07 and its 200-day moving average price is $213.69. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The firm has a market capitalization of $16.55 billion, a PE ratio of -177.64 and a beta of 1.41.

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, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The company's revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts predict that MongoDB will post -1.78 earnings per share for the current 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.