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

Shares of Datadog, Inc. (NASDAQ:DDOG) 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.

Analysts Set New Price Targets

Several research firms have weighed in on DDOG. Rosenblatt Securities lifted their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays lifted their target price on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Macquarie began coverage on Datadog in a report on Thursday, December 12th. They set an “outperform” rating and a $200.00 target price on the stock. BMO Capital Markets lifted their price target on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial downgraded Datadog from a “buy” rating to a “hold” rating and dropped their price target for the company from $170.00 to $150.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.97.

Datadog Price Performance

The business has a 50-day simple moving average of $145.36 and a two-hundred day simple moving average of $128.42. The stock has a market cap of $46.28 billion, a price-to-earnings ratio of 257.06, a P/E/G ratio of 16.31 and a beta of 1.14.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 3,393 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the sale, the director now owns 695,086 shares in the company, valued at $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction that occurred on 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 sale, the president now owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,763 shares of company stock valued at $87,543,649 over the last 90 days. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

Institutional investors have recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog during the fourth quarter worth approximately $30,000. True Wealth Design LLC boosted 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 acquiring an additional 240 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the period. Quarry LP bought a new stake in shares of Datadog in the third quarter valued at approximately $33,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Datadog in the fourth quarter valued at approximately $43,000. 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.