Datadog (NASDAQ:DDOG) Shares Gap Down – Time to Sell?

Datadog, Inc. (NASDAQ:DDOG) gapped down before the market opened on Wednesday . The stock had previously closed at $151.89, but opened at $147.90. Datadog shares last traded at $142.99, with a volume of 1,595,321 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Macquarie started coverage on shares of Datadog in a research note on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cantor Fitzgerald assumed coverage on Datadog in a research note on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective for the company. Finally, TD Cowen reissued a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.59.

Datadog Price Performance

The company’s fifty day simple moving average is $148.05 and its 200-day simple moving average is $129.18. The firm has a market capitalization of $49.07 billion, a PE ratio of 272.89, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14.

Insider Activity at Datadog

In other news, President Amit Agarwal sold 150,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now directly owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 642,679 shares of company stock valued at $92,155,421 in the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DDOG. Retirement Wealth Solutions LLC purchased a new position in Datadog during the fourth quarter valued at $30,000. Avior Wealth Management LLC raised its stake in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the last quarter. True Wealth Design LLC lifted its holdings in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Datadog by 66.5% during the 3rd 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 last quarter. Finally, Quarry LP purchased a new stake in shares of Datadog during the third quarter worth $33,000. 78.29% of the stock is 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.