Insider Selling: Datadog, Inc. (NASDAQ:DDOG) Director Sells 7,916 Shares of Stock

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) Director Shardul Shah sold 7,916 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the transaction, the director now owns 435,701 shares in the company, valued at $67,642,580.25. This represents a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shardul Shah also recently made the following trade(s):

• On Tuesday, October 15th, Shardul Shah sold 7,916 shares of Datadog stock. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72.
• On Friday, October 4th, Shardul Shah sold 15,832 shares of Datadog stock. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64.

Datadog Price Performance

Shares of DDOG stock traded down $6.71 during trading hours on Wednesday, hitting $150.20. The stock had a trading volume of 4,316,459 shares, compared to its average volume of 4,036,199. The stock's 50-day moving average price is $138.56 and its two-hundred day moving average price is $124.68. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08. The stock has a market capitalization of $51.03 billion, a price-to-earnings ratio of 283.40, a PEG ratio of 20.27 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DDOG. Monness Crespi & Hardt raised Datadog from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a research note on Thursday, November 7th. Scotiabank decreased their target price on Datadog from $135.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, November 8th. Macquarie began coverage on shares of Datadog in a research report on Thursday, December 12th. They set an "outperform" rating and a $200.00 price target for the company. BMO Capital Markets lifted their price objective on Datadog from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Wedbush upgraded shares of Datadog from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $155.56.

Institutional Trading of Datadog

A number of large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its holdings in shares of Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company's stock valued at $4,469,000 after acquiring an additional 24,574 shares during the last quarter. Heritage Investors Management Corp purchased a new position in Datadog during the 3rd quarter worth $1,157,000. Atom Investors LP bought a new stake in shares of Datadog in the third quarter valued at about $1,112,000. Jennison Associates LLC lifted its position in shares of Datadog by 2.1% in 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, Parnassus Investments LLC raised its stake in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company's stock worth $21,324,000 after buying an additional 40,952 shares in the last quarter. 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.