Datadog Sees Unusually Large Options Volume (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOGGet Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 36,984 call options on the stock. This represents an increase of approximately 57% compared to the typical volume of 23,521 call options.

Datadog Price Performance

Shares of DDOG opened at $151.89 on Wednesday. Datadog has a one year low of $98.80 and a one year high of $170.08. The company has a 50-day moving average of $147.68 and a two-hundred day moving average of $129.02. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 286.59, a PEG ratio of 16.28 and a beta of 1.14.

Insider Buying and Selling at Datadog

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total value of $3,486,750.00. Following the transaction, the director now owns 195,667 shares of the company’s stock, valued at $27,289,676.49. This trade represents a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were 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 directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 642,679 shares of company stock worth $92,155,421 over the last 90 days. Insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its holdings in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Geode Capital Management LLC lifted its stake in Datadog by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after acquiring an additional 125,457 shares in 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 worth $232,988,000 after acquiring an additional 46,746 shares during the period. Holocene Advisors LP grew its stake in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 valued at $135,377,000 after purchasing an additional 29,404 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DDOG. Loop Capital boosted their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Jefferies Financial Group upped their target price on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Scotiabank reduced their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. TD Cowen restated a “buy” rating and issued a $165.00 target price on shares of Datadog in a research report on Tuesday, November 19th. Finally, Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $158.45.

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Datadog Company Profile

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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.

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