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

Shares of Datadog, Inc. (NASDAQ:DDOG) gapped down prior to trading on Wednesday following insider selling activity. 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 the business’s 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 sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the company’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 sale, the director now owns 195,667 shares of the company’s stock, valued at $27,289,676.49. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Cowen reissued a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. Sanford C. Bernstein reduced their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. BMO Capital Markets raised their price target on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. UBS Group reiterated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Truist Financial downgraded Datadog from a “buy” rating to a “hold” rating and decreased their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $157.59.

Datadog Trading Down 2.1 %

The firm has a market capitalization of $48.45 billion, a P/E ratio of 269.08, a price-to-earnings-growth ratio of 16.94 and a beta of 1.14. The stock has a 50-day simple moving average of $148.26 and a two-hundred day simple moving average of $129.30.

Hedge Funds Weigh In On Datadog

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management grew its holdings in shares of Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after buying an additional 80 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares in the last quarter. Pathstone Holdings LLC boosted its stake in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after buying an additional 91 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

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.