Datadog (NASDAQ:DDOG) Shares Gap Down – Here’s Why

Datadog, Inc. (NASDAQ:DDOG)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $140.95, but opened at $137.51. Datadog shares last traded at $138.13, with a volume of 436,844 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, November 7th. Citigroup raised their target price on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group raised their target price on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Scotiabank lowered their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Finally, DA Davidson lifted their price target on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.45.

Datadog Stock Performance

The stock has a market cap of $47.02 billion, a price-to-earnings ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14. The stock’s 50-day simple moving average is $145.75 and its two-hundred day simple moving average is $128.57.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the transaction, the president now owns 214,275 shares in the company, valued at $27,005,078.25. This represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,679 shares of company stock valued at $88,668,671 in the last quarter. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Large investors have recently bought and sold shares of the stock. 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 valued at $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog during the fourth quarter worth $30,000. Avior Wealth Management LLC raised its holdings in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the period. Meeder Asset Management Inc. raised 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 acquiring an additional 115 shares during the period. Finally, Quarry LP acquired a new stake in shares of Datadog during the third quarter worth $33,000. 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.