Datadog Sees Unusually High Options Volume (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) saw unusually large options trading on Wednesday. Stock traders acquired 35,377 put options on the stock. This is an increase of approximately 59% compared to the average daily volume of 22,253 put options.

Datadog Trading Up 0.3 %

DDOG stock opened at $141.88 on Friday. The firm has a 50 day simple moving average of $144.49 and a 200-day simple moving average of $128.04. The company has a market capitalization of $48.20 billion, a P/E ratio of 267.70, a PEG ratio of 20.27 and a beta of 1.14. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of Datadog 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 completion of the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Amit Agarwal sold 25,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the transaction, the president now directly owns 195,667 shares in the company, valued at approximately $28,956,759.33. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 592,679 shares of company stock valued at $83,508,362. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its stake in shares of Datadog by 21.2% in the 4th quarter. Nordea Investment Management AB now owns 58,256 shares of the company’s stock valued at $8,376,000 after purchasing an additional 10,199 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Datadog during the fourth quarter valued at $1,190,000. GAMMA Investing LLC grew its position in Datadog by 40.3% in the 4th quarter. GAMMA Investing LLC now owns 790 shares of the company’s stock worth $113,000 after purchasing an additional 227 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in Datadog by 39.9% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company’s stock valued at $591,000 after acquiring an additional 1,465 shares during the period. Finally, Tidal Investments LLC lifted its holdings in Datadog by 27.6% in the third quarter. Tidal Investments LLC now owns 28,295 shares of the company’s stock worth $3,256,000 after purchasing an additional 6,119 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DDOG has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group reissued an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and dropped their price target for the stock from $170.00 to $150.00 in a research report on Tuesday. Rosenblatt Securities lifted their price target on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird upped their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.46.

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.