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

Key Points

• Traders bought 36,130 call options on MongoDB—about a 2,077% jump versus average volume—indicating unusually heavy bullish options activity.
• MongoDB beat quarterly estimates with $1.65 EPS (vs. $1.47 expected) and $695.1M revenue (vs. $669.4M), yet reported a negative net margin (~-2.89%) and analysts forecast roughly -0.46 EPS for the fiscal year.
• Analyst sentiment is mixed but tilts positive: the stock has a consensus rating of Moderate Buy and a consensus price target of $361.97, despite several recent price-target cuts and at least one upgrade.

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

MongoDB Price Performance

MDB stock opened at $258.29 on Thursday. The stock has a market capitalization of $20.76 billion, a PE ratio of -293.51 and a beta of 1.60. The company's 50-day moving average is $266.97 and its 200-day moving average is $338.06. MongoDB has a 1 year low of $167.19 and a 1 year high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to analysts' expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business's revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 EPS. On average, analysts anticipate that MongoDB will post -0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America cut their price target on shares of MongoDB from $400.00 to $350.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 22nd. Citigroup cut their price target on shares of MongoDB from $435.00 to $400.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Truist Financial cut their price target on shares of MongoDB from $500.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Needham & Company LLC cut their price target on shares of MongoDB from $500.00 to $300.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Finally, Mizuho raised shares of MongoDB from a "neutral" rating to an "outperform" rating and upped their price target for the company from $290.00 to $325.00 in a research report on Monday, March 23rd. Twenty-six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $361.97.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 4,000 shares of the company's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $252.33, for a total transaction of $1,009,320.00. Following the sale, the director owned 476,896 shares of the company's stock, valued at approximately $120,335,167.68. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the company's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This trade represents a 6.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 14,756 shares of company stock worth $3,734,893. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently made changes to their positions in MDB. Cornerstone Planning Group LLC raised its holdings in shares of MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after acquiring an additional 61 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of MongoDB in the 4th quarter worth about $28,000. Huntington National Bank raised its holdings in shares of MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company's stock worth $30,000 after acquiring an additional 51 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of MongoDB in the 4th quarter worth about $33,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of MongoDB by 2,825.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company's stock worth $36,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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