Datadog Sees Unusually Large Options Volume (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) saw some unusual options trading activity on Wednesday. Stock investors bought 44,969 call options on the stock. This represents an increase of approximately 48% compared to the typical volume of 30,450 call options.

Insider Buying and Selling at Datadog

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now directly owns 185,871 shares in the company, valued at approximately $18,966,276.84. This trade represents a 4.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the transaction, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This represents a 25.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 601,671 shares of company stock worth $63,458,109. Insiders own 8.70% of the company’s stock.

Institutional Trading of Datadog

A number of hedge funds have recently bought and sold shares of DDOG. Janney Montgomery Scott LLC grew its holdings in Datadog by 14.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,214 shares of the company’s stock worth $888,000 after acquiring an additional 764 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Datadog during the fourth quarter valued at $209,000. Caprock Group LLC grew its position in Datadog by 4.3% in the 4th quarter. Caprock Group LLC now owns 4,156 shares of the company’s stock worth $594,000 after purchasing an additional 173 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Datadog by 4.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,938 shares of the company’s stock valued at $1,277,000 after purchasing an additional 369 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Datadog by 89.0% in the 4th quarter. DAVENPORT & Co LLC now owns 3,868 shares of the company’s stock worth $553,000 after purchasing an additional 1,821 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DDOG shares. Scotiabank set a $130.00 price objective on Datadog and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Wells Fargo & Company dropped their target price on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Barclays lifted their target price on shares of Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Canaccord Genuity Group reduced their price objective on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $120.00 price target on shares of Datadog in a report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target of $141.04.

Datadog Stock Up 1.7%

Shares of NASDAQ DDOG opened at $121.75 on Friday. The company has a market cap of $42.05 billion, a P/E ratio of 238.73, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog has a 52 week low of $81.63 and a 52 week high of $170.08. The business has a 50-day simple moving average of $104.72 and a two-hundred day simple moving average of $124.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same period last year, the business earned $0.44 earnings per share. Datadog’s revenue was up 24.6% compared to the same quarter last year. Equities research analysts anticipate that Datadog will post 0.34 EPS for the current year.

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.