Datadog (NASDAQ:DDOG) Shares Gap Down on Insider Selling

Shares of Datadog, Inc. (NASDAQ:DDOG) gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $151.89, but opened at $147.90. Datadog shares last traded at $142.99, with a volume of 1,595,321 shares changing hands.

Specifically, CEO Olivier Pomel sold 11,195 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total value of $3,486,750.00. Following the completion of the sale, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

DDOG has been the subject of several research analyst reports. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. DA Davidson increased their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Mizuho upped their price target on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.59.

Datadog Stock Down 2.1 %

The company’s 50-day moving average is $148.26 and its 200-day moving average is $129.30. The stock has a market capitalization of $48.45 billion, a price-to-earnings ratio of 269.08, a PEG ratio of 16.94 and a beta of 1.14.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. raised its position in Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. Holocene Advisors LP lifted its stake in shares of Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Datadog during the 3rd quarter worth $52,561,000. Finally, Eagle Asset Management Inc. increased its position in shares of Datadog by 72.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after purchasing an additional 384,121 shares during the last quarter. 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.