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

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

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

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

Datadog Price Performance

Shares of DDOG stock opened at $138.40 on Friday. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08. The company has a market cap of $47.02 billion, a price-to-earnings ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14. The stock has a 50 day simple moving average of $145.75 and a 200-day simple moving average of $128.57.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of research analyst reports. Citigroup increased their price target on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Friday. 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. Cantor Fitzgerald assumed coverage on shares of Datadog in a research note on Friday. They set an “overweight” rating and a $180.00 price target on the stock. Stifel Nicolaus lifted their price objective on shares of Datadog from $141.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Scotiabank cut their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. 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 given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $158.45.

Hedge Funds Weigh In On Datadog

A number of large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC increased its stake in shares of Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after purchasing an additional 24,574 shares in the last quarter. Heritage Investors Management Corp acquired a new stake in Datadog in the 3rd quarter worth about $1,157,000. Atom Investors LP acquired a new position in shares of Datadog during the third quarter valued at approximately $1,112,000. Parnassus Investments LLC raised its holdings in shares of Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after acquiring an additional 40,952 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares in the last quarter. 78.29% of the stock is currently 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.