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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) saw unusually large options trading activity on Wednesday. Investors acquired 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.

MongoDB Trading Down 2.4%

Shares of MDB stock traded down $5.03 during trading hours on Friday, hitting $205.63. 1,567,544 shares of the company were exchanged, compared to its average volume of 1,954,969. The firm has a fifty day simple moving average of $180.65 and a 200 day simple moving average of $227.04. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of -75.05 and a beta of 1.39.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same quarter last year, the business posted $0.51 EPS. MongoDB's quarterly revenue was up 21.8% compared to the same quarter last year. Sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on MDB. The Goldman Sachs Group decreased their price target on shares of MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Piper Sandler raised their price target on shares of MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. JMP Securities reiterated a "market outperform" rating and issued a $345.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Finally, Scotiabank lifted their target price on shares of MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a research note on Thursday, June 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $282.47.

Insiders Place Their Bets

In other news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares of the company's stock, valued at $46,597,930.48. The trade was a 6.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at $2,529,103.50. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,208 shares of company stock valued at $10,167,739 in the last ninety days. Corporate insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cloud Capital Management LLC bought a new position in MongoDB in the 1st quarter valued at $25,000. Hollencrest Capital Management bought a new position in MongoDB in the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its holdings in MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 120 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in MongoDB in the 4th quarter valued at $29,000. Finally, NCP Inc. bought a new position in MongoDB in the 4th quarter valued at $35,000. 89.29% of the stock is owned by institutional investors.

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.