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

Datadog, Inc. (NASDAQ:DDOG) saw unusually large options trading on Wednesday. Stock traders acquired 29,843 call options on the company. This is an increase of 53% compared to the average daily volume of 19,483 call options.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the completion of the transaction, the director now directly owns 451,533 shares of the company’s stock, valued at $57,195,685.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction 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 completion of the transaction, the chief technology officer now directly owns 336,165 shares in the company, valued at approximately $43,476,219.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the transaction, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 317,186 shares of company stock valued at $39,962,314 over the last three months. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

Hedge funds have recently bought and sold shares of the business. Illinois Municipal Retirement Fund acquired a new position in shares of Datadog in the 1st quarter worth approximately $593,000. QRG Capital Management Inc. grew its position in shares of Datadog by 3.1% in the 1st quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock worth $976,000 after acquiring an additional 234 shares in the last quarter. Avantax Advisory Services Inc. grew its position in shares of Datadog by 36.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company’s stock worth $796,000 after acquiring an additional 1,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Datadog by 19.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 204,116 shares of the company’s stock worth $25,229,000 after acquiring an additional 32,538 shares in the last quarter. Finally, Midwest Professional Planners LTD. grew its position in shares of Datadog by 13.3% in the 1st quarter. Midwest Professional Planners LTD. now owns 2,707 shares of the company’s stock worth $335,000 after acquiring an additional 318 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Trading Up 4.1 %

NASDAQ DDOG traded up $5.04 during mid-day trading on Wednesday, reaching $128.45. 7,681,037 shares of the company’s stock traded hands, compared to its average volume of 3,837,486. Datadog has a 1-year low of $98.80 and a 1-year high of $138.61. The company has a fifty day simple moving average of $120.03 and a 200-day simple moving average of $119.40. The company has a market cap of $43.31 billion, a price-to-earnings ratio of 245.36, a P/E/G ratio of 18.45 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DDOG. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Needham & Company LLC reduced their target price on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barclays raised their price objective on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Rosenblatt Securities raised their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Monness Crespi & Hardt upgraded 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. One research analyst has rated the stock with a sell rating, one has issued 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

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.