Traders Buy High Volume of Datadog Call Options (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) was the recipient of unusually large options trading on Wednesday. Investors purchased 29,843 call options on the stock. This represents an increase of 53% compared to the typical volume of 19,483 call options.

Analysts Set New Price Targets

Several brokerages have commented on DDOG. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, November 7th. TD Cowen raised their price objective on Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, November 8th. Scotiabank dropped their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Robert W. Baird raised their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Stock Performance

Shares of Datadog stock traded up $2.98 during trading hours on Thursday, hitting $131.43. The company’s stock had a trading volume of 5,307,655 shares, compared to its average volume of 3,844,147. Datadog has a twelve month low of $98.80 and a twelve month high of $138.61. The firm has a fifty day moving average of $120.42 and a 200-day moving average of $119.46. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 247.98, a P/E/G ratio of 18.45 and a beta of 1.10.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the sale, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at $48,076,729.71. This trade represents a 17.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the sale, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,579 shares of company stock worth $40,386,541 over the last three months. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

Several large investors have recently modified their holdings of the business. Fred Alger Management LLC lifted its stake in shares of Datadog by 8.3% in the 3rd quarter. Fred Alger Management LLC now owns 104,813 shares of the company’s stock valued at $12,060,000 after purchasing an additional 8,073 shares during the last quarter. Captrust Financial Advisors lifted its stake in Datadog by 16.5% during the 3rd quarter. Captrust Financial Advisors now owns 9,513 shares of the company’s stock worth $1,095,000 after acquiring an additional 1,349 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Datadog by 3.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company’s stock worth $1,746,000 after acquiring an additional 511 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Datadog by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock worth $232,988,000 after acquiring an additional 46,746 shares in the last quarter. Finally, Cota Capital Management LLC acquired a new position in Datadog during the 3rd quarter worth about $4,360,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

About Datadog

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.