Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler Sells 33,334 Shares

Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total value of $4,531,757.30. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. The trade was a 9.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Datadog Stock Performance

NASDAQ:DDOG traded up $10.97 during midday trading on Friday, reaching $154.83. 13,849,056 shares of the stock traded hands, compared to its average volume of 3,936,316. The business has a 50-day moving average of $123.30 and a two-hundred day moving average of $119.78. The stock has a market capitalization of $52.60 billion, a PE ratio of 292.59, a price-to-earnings-growth ratio of 17.46 and a beta of 1.10. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $155.42.

Analyst Ratings Changes

Several research firms have weighed in on DDOG. DA Davidson raised their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. BNP Paribas began coverage on shares of Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Finally, Scotiabank dropped their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SouthState Corp purchased a new position in shares of Datadog in the second quarter worth about $26,000. True Wealth Design LLC increased its holdings in shares of Datadog by 12,000.0% during 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. raised its position in shares of Datadog by 66.5% in 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. Quarry LP acquired a new position in Datadog in the 3rd quarter worth about $33,000. Finally, Blue Trust Inc. purchased a new position in shares of Datadog during the 2nd quarter valued at approximately $37,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.