Datadog Sees Unusually Large Options Volume (NASDAQ:DDOG)

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

Analyst Upgrades and Downgrades

Several research firms have commented on DDOG. Royal Bank of Canada upped their price target on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Loop Capital lifted their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Rosenblatt Securities upped their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Scotiabank dropped their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.46.

Datadog Price Performance

Shares of DDOG traded down $1.15 during mid-day trading on Wednesday, reaching $140.25. 1,098,627 shares of the company’s stock were exchanged, compared to its average volume of 2,445,318. The business’s fifty day simple moving average is $143.88 and its 200-day simple moving average is $127.84. The stock has a market capitalization of $47.65 billion, a PE ratio of 264.63, a price-to-earnings-growth ratio of 20.27 and a beta of 1.14. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08.

Insider Activity

In other news, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on 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 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 position. 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. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DDOG. True Wealth Design LLC lifted its position in 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. Meeder Asset Management Inc. lifted its holdings in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the period. Quarry LP purchased a new stake in shares of Datadog in the third quarter valued at approximately $33,000. American National Bank & Trust acquired a new position in Datadog during the third quarter worth $39,000. Finally, ORG Wealth Partners LLC purchased a new position in Datadog in the third quarter worth $44,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.