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

Datadog, Inc. (NASDAQ:DDOG) was the target of unusually large options trading on Thursday. Traders acquired 132,970 call options on the company. This is an increase of 446% compared to the typical daily volume of 24,355 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Scotiabank set a $130.00 price objective on Datadog and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Bank of America increased their price objective on Datadog from $138.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. DA Davidson increased their price objective on Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Stifel Nicolaus increased their price objective on Datadog from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company lowered their price target on Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $143.03.

Insider Buying and Selling at Datadog

In other news, Director Matthew Jacobson sold 47,306 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the sale, the director directly owned 25,468 shares of the company’s stock, valued at $2,735,263.20. This represents a 65.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the sale, the chief technology officer directly owned 466,535 shares of the company’s stock, valued at approximately $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 901,778 shares of company stock worth $103,817,113 in the last quarter. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Datadog

Hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Datadog by 32.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company’s stock worth $2,216,000 after buying an additional 3,760 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Datadog in the 4th quarter valued at $14,884,000. Cullen Frost Bankers Inc. raised its holdings in shares of Datadog by 3.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock valued at $10,358,000 after purchasing an additional 2,451 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Datadog by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,254,538 shares of the company’s stock valued at $179,261,000 after purchasing an additional 77,961 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. raised its holdings in shares of Datadog by 731,900.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 73,200 shares of the company’s stock valued at $10,460,000 after purchasing an additional 73,190 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 15.2%

DDOG stock opened at $155.60 on Friday. The stock has a market capitalization of $53.73 billion, a P/E ratio of 338.26, a P/E/G ratio of 85.83 and a beta of 1.03. The firm has a 50-day simple moving average of $120.00 and a 200-day simple moving average of $121.09. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog has a 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts forecast that Datadog will post 0.34 earnings per share for the current fiscal year.

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.