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

Datadog, Inc. (NASDAQ:DDOG)’s share price was down 4.6% during mid-day 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. Approximately 1,004,164 shares changed hands during 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 company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $139.86, for a total value of $1,565,732.70. Following the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $53,103,862.98. The trade was a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total value of $3,486,750.00. Following the sale, the director now directly owns 195,667 shares in the company, valued at $27,289,676.49. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Robert W. Baird boosted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Macquarie started coverage on Datadog in a report on Thursday, December 12th. They set an “outperform” rating and a $200.00 price objective for the company. Loop Capital raised their target price on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Citigroup lifted their price objective on Datadog from $157.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Mizuho lifted their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.59.

Datadog Price Performance

The company’s 50-day moving average price is $148.26 and its two-hundred day moving average price is $129.30. The company has a market capitalization of $47.67 billion, a price-to-earnings ratio of 265.65, a PEG ratio of 16.28 and a beta of 1.14.

Hedge Funds Weigh In On Datadog

A number of institutional investors and hedge funds have recently modified their holdings of DDOG. Compagnie Lombard Odier SCmA boosted its stake in Datadog by 4.3% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 378,895 shares of the company’s stock worth $54,140,000 after acquiring an additional 15,750 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Datadog by 4.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,290 shares of the company’s stock worth $15,079,000 after acquiring an additional 4,096 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Datadog in the 4th quarter worth approximately $182,000. Legato Capital Management LLC bought a new position in shares of Datadog in the fourth quarter valued at approximately $1,858,000. Finally, Gladstone Institutional Advisory LLC bought a new stake in Datadog during the fourth quarter worth $853,000. 78.29% of the stock is currently owned by institutional investors.

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.