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

Datadog, Inc. (NASDAQ:DDOG)’s share price traded down 4.6% during trading on Thursday after an insider sold shares in the company. The company traded as low as $138.60 and last traded at $139.07. 1,004,164 shares were traded during trading, a decline of 74% from the average session 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the sale, the director now directly owns 195,667 shares in the company, valued at approximately $27,289,676.49. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DDOG shares. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 6th. TD Cowen restated a “buy” rating and set a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Macquarie assumed coverage on Datadog in a report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, Rosenblatt Securities boosted their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five 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 a consensus price target of $157.59.

Datadog Stock Performance

The stock has a market capitalization of $48.45 billion, a PE ratio of 269.08, a P/E/G ratio of 16.28 and a beta of 1.14. The firm’s 50 day moving average is $148.26 and its two-hundred day moving average is $129.30.

Institutional Trading of Datadog

Large investors have recently modified their holdings of the stock. Retirement Wealth Solutions LLC acquired a new position in Datadog during the 4th quarter worth $30,000. Avior Wealth Management LLC boosted its stake in shares of 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 buying an additional 81 shares during the period. True Wealth Design LLC grew its position in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Finally, Quarry LP acquired a new stake in Datadog in the third quarter valued at approximately $33,000. Hedge funds and other 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.