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

Datadog, Inc. (NASDAQ:DDOG)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $151.89, but opened at $147.90. Datadog shares last traded at $142.99, with a volume of 1,595,321 shares trading hands.

Wall Street Analyst Weigh In

DDOG has been the subject of several analyst reports. UBS Group reissued an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Jefferies Financial Group raised their target price on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and cut their price objective for the stock from $165.00 to $140.00 in a research report on Wednesday. Finally, Loop Capital boosted their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target of $157.59.

Datadog Price Performance

The company has a market capitalization of $49.07 billion, a price-to-earnings ratio of 272.89, a PEG ratio of 16.28 and a beta of 1.14. The stock has a 50 day simple moving average of $148.05 and a two-hundred day simple moving average of $129.18.

Insider Transactions at Datadog

In related news, Director Matthew Jacobson sold 3,393 shares of the firm’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 transaction, the director now owns 695,086 shares in the company, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the sale, the general counsel now directly owns 68,758 shares of the company’s stock, valued at $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,679 shares of company stock valued at $92,155,421. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently modified their holdings of the stock. True Wealth Design LLC lifted its stake in shares of Datadog by 12,000.0% in the 3rd 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. Retirement Wealth Solutions LLC acquired a new stake in Datadog in the fourth quarter valued at about $30,000. Avior Wealth Management LLC boosted its holdings in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Meeder Asset Management Inc. increased its position in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the period. Finally, Quarry LP purchased a new position in shares of Datadog during the 3rd quarter worth approximately $33,000. 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.