Stock Traders Buy Large Volume of Call Options on Datadog (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) was the recipient of unusually large options trading on Thursday. Stock investors acquired 27,141 call options on the company. This represents an increase of 51% compared to the typical volume of 17,985 call options.

Datadog Stock Up 2.9 %

Shares of NASDAQ:DDOG traded up $3.69 during midday trading on Thursday, reaching $128.85. The company’s stock had a trading volume of 2,320,724 shares, compared to its average volume of 3,824,134. The stock has a fifty day moving average of $113.96 and a 200 day moving average of $119.20. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61. The firm has a market capitalization of $43.10 billion, a PE ratio of 404.44, a P/E/G ratio of 28.94 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue was up 26.7% on a year-over-year basis. Sell-side analysts anticipate that Datadog will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the completion of the sale, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 325,919 shares of company stock worth $36,811,383. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors have recently modified their holdings of DDOG. Riverview Trust Co purchased a new position in shares of Datadog in the first quarter valued at approximately $26,000. SouthState Corp acquired a new stake in Datadog during the 2nd quarter worth $26,000. Raleigh Capital Management Inc. acquired a new stake in shares of Datadog in the fourth quarter valued at about $29,000. Blue Trust Inc. purchased a new position in shares of Datadog in the second quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DDOG shares. UBS Group boosted their target price on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. BNP Paribas assumed coverage on Datadog in a report on Tuesday. They set an “outperform” rating and a $150.00 price objective for the company. BMO Capital Markets decreased their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Wedbush reiterated an “outperform” rating and set a $155.00 price target on shares of Datadog in a research note on Friday, August 9th. Finally, Scotiabank cut their target price on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.19.

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.