Insider Selling: Datadog, Inc. (NASDAQ:DDOG) CFO Sells 33,334 Shares of Stock

Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total value of $4,531,757.30. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. The trade was a 9.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Datadog Price Performance

Datadog stock opened at $154.83 on Monday. The stock has a market cap of $52.60 billion, a price-to-earnings ratio of 292.14, a price-to-earnings-growth ratio of 18.83 and a beta of 1.10. The firm has a 50-day moving average of $124.21 and a two-hundred day moving average of $120.05. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $155.42.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets raised their price target on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. TD Cowen restated a “buy” rating and issued a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Finally, BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Institutional Trading of Datadog

A number of large investors have recently modified their holdings of DDOG. Holocene Advisors LP raised its holdings in shares of Datadog by 205.2% in 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 in the last quarter. Kodai Capital Management LP bought a new stake in shares of Datadog in the 1st quarter valued at about $116,054,000. DNB Asset Management AS raised its holdings in shares of Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after purchasing an additional 739,011 shares during the period. Finally, Champlain Investment Partners LLC bought a new position in shares of Datadog during the third quarter valued at approximately $52,561,000. 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.