David M. Obstler Sells 33,334 Shares of Datadog, Inc. (NASDAQ:DDOG) Stock

Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler sold 33,334 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 in the company, valued at approximately $42,709,780.10. This represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Datadog Stock Performance

Shares of DDOG opened at $154.83 on Friday. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $155.42. The stock has a market capitalization of $52.60 billion, a PE ratio of 292.14, a PEG ratio of 18.83 and a beta of 1.10. The stock has a 50-day simple moving average of $124.21 and a 200-day simple moving average of $120.03.

Analyst Ratings Changes

A number of research firms have weighed in on DDOG. BNP Paribas assumed coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. Citigroup upped their price objective on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. BMO Capital Markets raised their price objective on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Sanford C. Bernstein decreased their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Robert W. Baird raised their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DDOG. SouthState Corp purchased a new stake in shares of Datadog in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC grew its stake 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 purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Quarry LP acquired a new stake in Datadog in the third quarter valued at $33,000. Finally, Blue Trust Inc. purchased a new stake in Datadog during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About Datadog

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.