Datadog Sees Unusually Large Options Volume (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock investors bought 44,969 call options on the company. This represents an increase of 48% compared to the typical daily volume of 30,450 call options.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a research note on Tuesday, May 6th. Wolfe Research lowered Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Barclays lifted their price target on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Truist Financial decreased their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $141.04.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the transaction, the chief executive officer now owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This represents a 16.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shardul Shah sold 23,748 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $120.00, for a total value of $2,849,760.00. Following the transaction, the director now owns 396,121 shares in the company, valued at approximately $47,534,520. This represents a 5.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,671 shares of company stock worth $63,458,109 in the last three months. Corporate insiders own 8.70% of the company's stock.

Hedge Funds Weigh In On Datadog

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Datadog by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company's stock valued at $3,116,487,000 after acquiring an additional 1,058,803 shares during the last quarter. Baillie Gifford & Co. lifted its position in Datadog by 12.6% during the first quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock valued at $1,217,769,000 after purchasing an additional 1,369,522 shares during the period. Goldman Sachs Group Inc. grew its position in Datadog by 259.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after purchasing an additional 6,250,942 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Datadog by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,729,254 shares of the company's stock worth $667,611,000 after buying an additional 1,261,065 shares during the last quarter. Finally, Groupama Asset Managment grew its stake in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

DDOG stock traded up $0.45 during midday trading on Friday, reaching $122.20. The stock had a trading volume of 2,479,801 shares, compared to its average volume of 4,382,122. The firm has a fifty day simple moving average of $104.72 and a two-hundred day simple moving average of $124.61. Datadog has a 52-week low of $81.63 and a 52-week high of $170.08. The stock has a market cap of $42.20 billion, a PE ratio of 239.80, a P/E/G ratio of 44.03 and a beta of 1.12.

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, beating analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period in the prior year, the company earned $0.44 earnings per share. The company's revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts predict that Datadog will post 0.34 EPS 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.