Datadog (NASDAQ:DDOG) Trading Down 4.6% on Insider Selling

Datadog, Inc. (NASDAQ:DDOG) shares dropped 4.6% on Thursday following insider selling activity. The company traded as low as $138.60 and last traded at $139.07. Approximately 1,004,164 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,909,708 shares. The stock had previously closed at $145.72.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DDOG shares. Loop Capital boosted their target price on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. BNP Paribas assumed coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. Cantor Fitzgerald initiated 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. BMO Capital Markets lifted 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. Finally, Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.59.

Datadog Price Performance

The stock’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 P/E/G ratio of 16.28 and a beta of 1.14.

Institutional Trading of Datadog

Hedge funds have recently modified their holdings of the business. Retirement Wealth Solutions LLC acquired a new position in Datadog during the fourth quarter worth $30,000. Avior Wealth Management LLC boosted its position in shares of Datadog by 55.9% during 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. True Wealth Design LLC grew its stake in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Datadog in the third quarter valued at about $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.