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

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

Insider Buying and Selling

In other Datadog news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $130.39, for a total value of $4,346,289.87. Following the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $40,963,061.62. This trade represents a 9.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This trade represents a 16.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David M. Obstler sold 33,333 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $40,963,061.62. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,579 shares of company stock valued at $40,386,541. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several hedge funds have recently bought and sold shares of DDOG. SouthState Corp purchased a new stake in shares of Datadog in the second quarter valued at $26,000. Meeder Asset Management Inc. grew its position in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. purchased a new stake in shares of Datadog in the second quarter valued at $37,000. EverSource Wealth Advisors LLC grew its position in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares during the period. Finally, American National Bank & Trust purchased a new stake in shares of Datadog in the third quarter valued at $39,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Datadog stock traded up $2.98 during mid-day trading on Thursday, hitting $131.43. 5,307,655 shares of the company were exchanged, compared to its average volume of 3,844,147. The business’s 50 day simple moving average is $120.42 and its two-hundred day simple moving average is $119.46. The company has a market capitalization of $44.31 billion, a P/E ratio of 247.98, a PEG ratio of 18.45 and a beta of 1.10. Datadog has a 12-month low of $98.80 and a 12-month high of $138.61.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. BNP Paribas assumed coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective on the stock. Needham & Company LLC dropped their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. DA Davidson increased their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird raised their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average 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.