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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw unusually large options trading on Wednesday. Stock investors acquired 36,130 call options on the stock. This is an increase of 2,077% compared to the average volume of 1,660 call options.

MongoDB Trading Up 3.9%

MongoDB stock opened at $217.12 on Thursday. The firm has a 50-day moving average of $197.71 and a 200-day moving average of $214.60. The firm has a market cap of $17.74 billion, a P/E ratio of -190.46 and a beta of 1.41. MongoDB has a 1-year low of $140.78 and a 1-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 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The firm had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. During the same quarter in the previous year, the business posted $0.51 EPS. The company's quarterly revenue was up 21.8% on a year-over-year basis. Research analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 820 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction of $172,888.80. Following the transaction, the director owned 1,106,186 shares in the company, valued at $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,746 shares of company stock valued at $7,500,196 over the last ninety days. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of MDB. HighTower Advisors LLC boosted its holdings in MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock valued at $4,371,000 after acquiring an additional 372 shares during the period. Jones Financial Companies Lllp raised its stake in shares of MongoDB by 68.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company's stock valued at $237,000 after acquiring an additional 413 shares in the last quarter. 111 Capital purchased a new position in MongoDB during the 4th quarter valued at about $390,000. Park Avenue Securities LLC increased its position in MongoDB by 52.6% during the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock valued at $461,000 after purchasing an additional 907 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in MongoDB by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock valued at $1,359,000 after purchasing an additional 298 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDB has been the topic of several research reports. William Blair reissued an "outperform" rating on shares of MongoDB in a report on Thursday, June 26th. Wedbush restated an "outperform" rating and issued a $300.00 price target on shares of MongoDB in a report on Thursday, June 5th. Citigroup lowered their price target on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Macquarie reiterated a "neutral" rating and issued a $230.00 price target (up from $215.00) on shares of MongoDB in a research note on Friday, June 6th. Finally, Mizuho lowered their price target on MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $282.39.

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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