Datadog Sees Unusually High Options Volume (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) was the target of some unusual options trading activity on Monday. Stock investors bought 36,984 call options on the stock. This is an increase of approximately 57% compared to the average daily volume of 23,521 call options.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DDOG. TD Cowen reiterated a “buy” rating and set a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Royal Bank of Canada lifted their target price on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Rosenblatt Securities upped their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Macquarie initiated coverage on Datadog in a research note on Thursday, December 12th. They issued an “outperform” rating and a $200.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.45.

Datadog Trading Up 3.4 %

NASDAQ DDOG traded up $4.86 on Monday, hitting $145.85. 2,581,177 shares of the company’s stock were exchanged, compared to its average volume of 3,378,722. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a 50-day moving average of $147.36 and a 200-day moving average of $128.91. The stock has a market cap of $49.55 billion, a price-to-earnings ratio of 275.07, a P/E/G ratio of 16.28 and a beta of 1.14.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the transaction, the director now directly owns 695,086 shares in the company, valued at approximately $86,906,602.58. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 642,679 shares of company stock valued at $92,155,421 in the last quarter. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after buying an additional 125,457 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $232,988,000 after buying an additional 46,746 shares during the period. Holocene Advisors LP lifted its stake in Datadog by 205.2% in 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. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Datadog by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock worth $135,377,000 after acquiring an additional 29,404 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.