Datadog Sees Unusually Large Options Volume (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) was the target of unusually large options trading on Wednesday. Investors bought 35,377 put options on the stock. This is an increase of approximately 59% compared to the typical daily volume of 22,253 put options.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. BMO Capital Markets boosted their price target on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. TD Cowen reiterated a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. Finally, DA Davidson boosted their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.46.

Insider Transactions at Datadog

In related news, CFO David M. Obstler sold 33,333 shares of Datadog stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $130.39, for a total transaction of $4,346,289.87. Following the completion of the transaction, the chief financial officer now directly owns 314,158 shares in the company, valued at $40,963,061.62. The trade was a 9.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total value of $16,438,489.65. Following the transaction, the chief technology officer now owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 626,012 shares of company stock valued at $87,854,652 in the last quarter. 11.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Datadog

Institutional investors have recently modified their holdings of the stock. Holocene Advisors LP raised its stake in Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after acquiring an additional 1,097,815 shares during the period. Thrivent Financial for Lutherans raised its stake in Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after acquiring an additional 739,011 shares during the period. Champlain Investment Partners LLC acquired a new stake in shares of Datadog in the third quarter valued at approximately $52,561,000. Eagle Asset Management Inc. increased its stake in shares of Datadog by 72.4% in the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of Datadog stock opened at $141.88 on Thursday. The firm has a market cap of $48.20 billion, a PE ratio of 267.70, a price-to-earnings-growth ratio of 20.27 and a beta of 1.14. The firm’s 50-day simple moving average is $144.16 and its 200-day simple moving average is $127.94. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08.

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.