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 Datadog 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 completion of the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $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 this hyperlink.

Datadog Trading Up 7.6 %

Shares of NASDAQ DDOG traded up $10.97 during mid-day trading on Friday, reaching $154.83. The company had a trading volume of 13,849,056 shares, compared to its average volume of 3,936,316. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $155.42. The stock has a market cap of $52.60 billion, a P/E ratio of 292.59, a PEG ratio of 17.46 and a beta of 1.10. The firm has a 50 day simple moving average of $123.30 and a two-hundred day simple moving average of $119.78.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently made changes to their positions in DDOG. Los Angeles Capital Management LLC increased its position in Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after buying an additional 24,574 shares during the period. Heritage Investors Management Corp acquired a new position in shares of Datadog in the 3rd quarter valued at $1,157,000. Parnassus Investments LLC raised its position in Datadog by 28.4% in the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after purchasing an additional 40,952 shares during the last quarter. Jennison Associates LLC boosted its stake in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares during the period. Finally, Bank of Montreal Can increased its stake in Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of research reports. Sanford C. Bernstein dropped their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, November 7th. Citigroup raised their price objective on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

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.