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

Datadog, Inc. (NASDAQ:DDOG)’s stock price gapped down before the market opened 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 trading hands.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Scotiabank dropped their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Loop Capital raised their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Cantor Fitzgerald started coverage on shares of Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. Finally, DA Davidson lifted their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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 cap of $48.45 billion, a price-to-earnings ratio of 269.08, a price-to-earnings-growth ratio of 16.94 and a beta of 1.14.

Institutional Trading of Datadog

Several institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC lifted its holdings in shares of Datadog by 47.9% during 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 period. Holocene Advisors LP lifted its stake in shares of Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the period. Champlain Investment Partners LLC bought a new position in Datadog in the third quarter valued at about $52,561,000. Eagle Asset Management Inc. increased its position in Datadog by 72.4% in the third 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 period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Datadog by 51.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock worth $69,985,000 after purchasing an additional 206,696 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.