Insider Selling: Datadog, Inc. (NASDAQ:DDOG) CEO Sells 178,723 Shares of Stock

Datadog, Inc. (NASDAQ:DDOG) CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Olivier Pomel also recently made the following trade(s):

• On Monday, October 7th, Olivier Pomel sold 85,637 shares of Datadog stock. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57.

Datadog Price Performance

DDOG stock traded up $1.57 during trading on Wednesday, reaching $156.48. 5,927,738 shares of the company were exchanged, compared to its average volume of 4,034,428. The company has a market capitalization of $53.16 billion, a price-to-earnings ratio of 294.62, a P/E/G ratio of 21.85 and a beta of 1.11. The company has a 50-day moving average of $134.53 and a two-hundred day moving average of $123.21. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08.

Analyst Ratings Changes

DDOG has been the topic of several research reports. Barclays upped their price objective on shares of Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Robert W. Baird increased their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Citigroup boosted their price objective on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and issued a $165.00 target price on shares of Datadog in a research report on Tuesday, November 19th. Finally, Rosenblatt Securities lifted their price target on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target of $152.19.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SouthState Corp bought a new position in Datadog in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC lifted its holdings 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 during the period. Meeder Asset Management Inc. lifted its holdings 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 purchasing an additional 115 shares during the period. Quarry LP bought a new stake in shares of Datadog in the third quarter worth $33,000. Finally, Blue Trust Inc. acquired a new stake in Datadog in the second quarter valued at $37,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.