Datadog Target of Unusually Large Options Trading (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 35,377 put options on the company. This is an increase of approximately 59% compared to the average volume of 22,253 put options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 7th. Stifel Nicolaus increased their price objective on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Macquarie initiated coverage on shares of Datadog in a research report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and an average target price of $157.46.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the transaction, the general counsel now owns 68,758 shares of the company’s stock, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,012 shares of company stock valued at $87,854,652. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently modified their holdings of the stock. National Bank of Canada FI lifted its holdings in Datadog by 12.4% in the 2nd quarter. National Bank of Canada FI now owns 29,420 shares of the company’s stock worth $3,839,000 after buying an additional 3,254 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Datadog by 1.5% in the second quarter. Victory Capital Management Inc. now owns 235,293 shares of the company’s stock valued at $30,515,000 after purchasing an additional 3,543 shares during the last quarter. Private Advisor Group LLC grew its stake in Datadog by 0.7% during the 2nd quarter. Private Advisor Group LLC now owns 28,874 shares of the company’s stock valued at $3,745,000 after purchasing an additional 187 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Datadog by 472.8% during the 2nd quarter. Acadian Asset Management LLC now owns 81,228 shares of the company’s stock worth $10,528,000 after purchasing an additional 67,048 shares during the last quarter. Finally, Caprock Group LLC raised its position in shares of Datadog by 59.2% in the 2nd quarter. Caprock Group LLC now owns 4,107 shares of the company’s stock valued at $533,000 after purchasing an additional 1,528 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

NASDAQ DDOG traded down $1.15 during trading hours on Wednesday, hitting $140.25. The company had a trading volume of 1,098,627 shares, compared to its average volume of 2,445,318. The firm’s 50 day moving average is $143.88 and its 200 day moving average is $127.84. The company has a market capitalization of $47.65 billion, a price-to-earnings ratio of 264.63, a P/E/G ratio of 20.27 and a beta of 1.14. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.