Datadog (NASDAQ:DDOG) Shares Gap Up – Here’s What Happened

Shares of Datadog, Inc. (NASDAQ:DDOG) gapped up prior to trading on Friday . The stock had previously closed at $143.86, but opened at $148.50. Datadog shares last traded at $150.27, with a volume of 2,442,186 shares changing hands.

Analysts Set New Price Targets

Several research firms recently issued reports on DDOG. Robert W. Baird lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. UBS Group reissued an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Barclays upped their target price on shares of Datadog from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, BNP Paribas assumed coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Stock Up 7.6 %

The firm has a market capitalization 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 company’s fifty day moving average is $124.21 and its two-hundred day moving average is $120.03.

Insider Buying and Selling at Datadog

In other news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This represents a 16.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 541,491 shares of company stock valued at $68,927,496. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Large investors have recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in Datadog in the second quarter valued at $26,000. True Wealth Design LLC increased its position in 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 acquiring an additional 240 shares during the period. Meeder Asset Management Inc. increased its position in 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 acquiring an additional 115 shares during the period. Quarry LP bought a new position in Datadog during the third quarter worth about $33,000. Finally, Blue Trust Inc. bought a new position in Datadog during the second quarter worth about $37,000. Institutional investors and hedge funds 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.