Datadog (NASDAQ:DDOG) Shares Gap Down – Here’s Why

Datadog, Inc. (NASDAQ:DDOG) gapped down prior to trading on Thursday . The stock had previously closed at $140.95, but opened at $137.51. Datadog shares last traded at $138.13, with a volume of 436,844 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research note on Thursday. Sanford C. Bernstein dropped their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Citigroup lifted their price objective on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Friday. Macquarie assumed coverage on Datadog in a research note on Thursday, December 12th. They set an “outperform” rating and a $200.00 target price for the company. Finally, DA Davidson boosted their target price on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.45.

Datadog Trading Up 1.2 %

The business has a 50 day moving average of $145.75 and a 200-day moving average of $128.57. The stock has a market cap of $47.02 billion, a PE ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14.

Insider Activity at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the transaction, the director now owns 427,785 shares of the company’s stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total value of $3,528,000.00. Following the transaction, the director now directly owns 195,667 shares in the company, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 617,679 shares of company stock valued at $88,668,671. 11.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DDOG. New Century Financial Group LLC increased its holdings in Datadog by 64.8% in the 4th quarter. New Century Financial Group LLC now owns 3,493 shares of the company’s stock valued at $506,000 after purchasing an additional 1,373 shares in the last quarter. Donoghue Forlines LLC increased its holdings in Datadog by 196.3% in the 4th quarter. Donoghue Forlines LLC now owns 13,653 shares of the company’s stock valued at $1,951,000 after purchasing an additional 9,045 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Datadog by 14.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,214 shares of the company’s stock valued at $888,000 after purchasing an additional 764 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Datadog by 149.5% in the 4th quarter. SG Americas Securities LLC now owns 18,372 shares of the company’s stock valued at $2,625,000 after purchasing an additional 11,009 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Company Profile

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.