Datadog Target of Unusually Large Options Trading (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) saw some unusual options trading activity on Wednesday. Investors bought 35,377 put options on the stock. This represents an increase of approximately 59% compared to the average volume of 22,253 put options.

Insider Buying and Selling at Datadog

In other news, CFO David M. Obstler sold 33,333 shares of Datadog stock in a transaction 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 transaction, the chief financial officer now directly owns 314,158 shares in the company, valued at approximately $40,963,061.62. This trade represents a 9.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,012 shares of company stock worth $87,854,652. 11.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Datadog

Institutional investors have recently bought and sold shares of the business. Jennison Associates LLC raised its position in shares of Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares during the last quarter. Geode Capital Management LLC increased its holdings in Datadog by 2.5% in the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Datadog by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after purchasing an additional 138,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Datadog by 2.4% in the third 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 purchasing an additional 46,746 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Truist Financial downgraded shares of Datadog from a “buy” rating to a “hold” rating and cut their target price for the stock from $170.00 to $150.00 in a research report on Tuesday. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. BMO Capital Markets raised their price target on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.46.

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.