Shardul Shah Sells 7,916 Shares of Datadog, Inc. (NASDAQ:DDOG) Stock

Datadog, Inc. (NASDAQ:DDOG) Director Shardul Shah sold 7,916 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the transaction, the director now owns 427,785 shares in the company, valued at approximately $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 16th, Shardul Shah sold 7,916 shares of Datadog stock. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00.

Datadog Price Performance

NASDAQ DDOG opened at $138.40 on Monday. The business’s 50-day moving average is $146.03 and its 200 day moving average is $128.60. The stock has a market capitalization of $47.02 billion, a PE ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08.

Analysts Set New Price Targets

DDOG has been the subject of several recent research reports. Macquarie began coverage on shares of Datadog in a research report on Thursday, December 12th. They set an “outperform” rating and a $200.00 target price for the company. BMO Capital Markets lifted their price target on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Cantor Fitzgerald began coverage on shares of Datadog in a report on Friday. They set an “overweight” rating and a $180.00 price objective on the stock. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price objective on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.45.

Hedge Funds Weigh In On Datadog

Several hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC boosted its stake in shares of Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after purchasing an additional 24,574 shares in the last quarter. Heritage Investors Management Corp purchased a new stake in Datadog in the third quarter worth about $1,157,000. Atom Investors LP bought a new position in Datadog during the 3rd quarter valued at approximately $1,112,000. Parnassus Investments LLC grew its stake in shares of 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 acquiring an additional 40,952 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after purchasing an additional 126,613 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.