Insider Selling: Datadog, Inc. (NASDAQ:DDOG) CTO Sells $18,148,051.90 in Stock

Datadog, Inc. (NASDAQ:DDOG) CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $46,371,802.84. The trade was a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alexis Le-Quoc also recently made the following trade(s):

• On Wednesday, January 8th, Alexis Le-Quoc sold 127,105 shares of Datadog stock. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $0.98 during midday trading on Wednesday, hitting $144.85. The company’s stock had a trading volume of 4,836,467 shares, compared to its average volume of 4,235,764. The company has a market cap of $49.21 billion, a P/E ratio of 273.31, a price-to-earnings-growth ratio of 16.59 and a beta of 1.15. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The business’s 50 day simple moving average is $147.55 and its 200 day simple moving average is $129.90.

Institutional Investors Weigh In On Datadog

A number of large investors have recently made changes to their positions in DDOG. Jennison Associates LLC boosted its stake in Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the last quarter. Holocene Advisors LP increased its position in Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after purchasing an additional 1,097,815 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in Datadog during the third quarter worth about $52,561,000. Finally, Eagle Asset Management Inc. boosted its holdings in Datadog by 72.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DDOG. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. BNP Paribas initiated coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. Robert W. Baird increased their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $157.59.

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.