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

Datadog, Inc. (NASDAQ:DDOG) saw unusually large options trading activity on Monday. Traders purchased 36,984 call options on the company. This is an increase of approximately 57% compared to the average volume of 23,521 call options.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of research reports. Citigroup increased their price target on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Mizuho upped their target price on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, November 7th. Morgan Stanley reiterated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Finally, Scotiabank reduced their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.45.

Insider Buying and Selling

In related news, President Amit Agarwal sold 150,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the sale, the president now directly owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the sale, the director now directly owns 435,701 shares in the company, valued at approximately $67,642,580.25. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 642,679 shares of company stock valued at $92,155,421. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its position in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the period. Retirement Wealth Solutions LLC purchased a new position in Datadog in the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC raised its holdings in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the period. Meeder Asset Management Inc. lifted its position in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. Finally, Quarry LP purchased a new stake in Datadog during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG stock opened at $142.15 on Tuesday. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08. The company’s 50 day simple moving average is $147.36 and its 200-day simple moving average is $128.91. The firm has a market capitalization of $48.29 billion, a PE ratio of 268.21, a P/E/G ratio of 16.28 and a beta of 1.14.

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.