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

Key Points

• Traders purchased 36,130 call options on MongoDB on Wednesday—about a 2,077% increase versus the stock’s average call volume, indicating unusually heavy bullish/options activity.
• Two directors recently sold shares (Hope F. Cochran sold 1,566 shares at $249.33; Dwight A. Merriman sold 1,190 shares at $369.75), with insiders now owning roughly 3.10% of the company.
• Several analysts cut price targets (e.g., Oppenheimer to $375, RBC to $395), but the consensus remains a Moderate Buy with an average price target near $360.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 36,130 call options on the company. This represents an increase of approximately 2,077% compared to the average volume of 1,660 call options.

Insider Transactions at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the transaction, the director owned 24,093 shares in the company, valued at $6,007,107.69. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 1,190 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total transaction of $440,002.50. Following the completion of the sale, the director owned 80,462 shares in the company, valued at approximately $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MDB. Cornerstone Planning Group LLC lifted its holdings in MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after buying an additional 61 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of MongoDB in the 4th quarter worth approximately $28,000. Huntington National Bank lifted its position 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 purchasing an additional 51 shares during the period. International Assets Investment Management LLC acquired a new position in shares of MongoDB in the 4th quarter worth approximately $33,000. Finally, TD Private Client Wealth LLC lifted its position 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 purchasing an additional 113 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Oppenheimer decreased their target price on shares of MongoDB from $425.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada cut their price objective on MongoDB from $500.00 to $395.00 and set an "outperform" rating on the stock in a report on Tuesday, March 3rd. Wedbush cut their price objective on MongoDB from $440.00 to $380.00 and set an "outperform" rating on the stock in a report on Tuesday, March 3rd. Wells Fargo & Company cut their price objective on MongoDB from $450.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Finally, Monness Crespi & Hardt cut their price objective on MongoDB from $475.00 to $370.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Twenty-seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $360.03.

MongoDB Price Performance

NASDAQ:MDB opened at $244.06 on Thursday. The firm's 50 day simple moving average is $286.56 and its 200 day simple moving average is $342.31. MongoDB has a one year low of $148.88 and a one year high of $444.72. The company has a market cap of $19.62 billion, a PE ratio of -277.34 and a beta of 1.60.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm's revenue was up 26.8% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. Equities research analysts expect that MongoDB will post -1.78 EPS for the current year.

MongoDB Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.