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

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) saw unusually large options trading on Thursday. Stock investors purchased 132,970 call options on the company. This represents an increase of 446% compared to the average volume of 24,355 call options.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DDOG shares. Truist Financial cut their target price on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Barclays increased their price target on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. BTIG Research set a $136.00 price target on Datadog and gave the company a "buy" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Finally, Canaccord Genuity Group lowered their price target on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus price target of $143.03.

Datadog Stock Performance

DDOG traded up $20.59 during trading hours on Thursday, hitting $155.60. The stock had a trading volume of 29,996,674 shares, compared to its average volume of 4,545,313. The company's fifty day simple moving average is $117.80 and its 200 day simple moving average is $121.10. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a market cap of $53.73 billion, a PE ratio of 338.26, a price-to-earnings-growth ratio of 74.69 and a beta of 1.03. 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 (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same quarter last year, the firm posted $0.44 EPS. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. Equities analysts anticipate that Datadog will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction 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 transaction, the chief technology officer directly owned 466,535 shares in the company, valued at $49,373,399.05. This trade represents a 21.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Jacobson sold 47,306 shares of the stock in a transaction 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 transaction, the director owned 25,468 shares in the company, valued at approximately $2,735,263.20. This represents a 65.00% 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 over the last quarter. Corporate insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in DDOG. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after purchasing an additional 22,646 shares during the period. Cornerstone Planning Group LLC boosted its stake in Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares during the period. Costello Asset Management INC bought a new position in Datadog in the 1st quarter worth about $30,000. Putney Financial Group LLC bought a new position in Datadog in the 4th quarter worth about $32,000. Finally, Elequin Capital LP bought a new position in Datadog in the 4th quarter worth about $34,000. Hedge funds and other institutional investors 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.