Datadog (NASDAQ:DDOG) Shares Gap Up – What’s Next?

Shares of Datadog, Inc. (NASDAQ:DDOG) gapped up before the market opened on Friday . The stock had previously closed at $143.86, but opened at $148.50. Datadog shares last traded at $150.27, with a volume of 2,442,186 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup upped their price objective on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities upped their price target on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen restated a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Tuesday. Robert W. Baird upped their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. 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 report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Up 4.8 %

The firm has a market capitalization of $51.22 billion, a P/E ratio of 271.54, a P/E/G ratio of 17.46 and a beta of 1.10. The company has a fifty day simple moving average of $123.30 and a 200 day simple moving average of $119.78.

Insider Activity at Datadog

In other news, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the sale, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This represents a 41.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. This represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 470,579 shares of company stock valued at $59,291,041 over the last ninety days. Insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Hedge funds have recently made changes to their positions in the business. SouthState Corp purchased a new position in shares of Datadog in the second quarter worth $26,000. True Wealth Design LLC lifted its stake in 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 purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. Quarry LP purchased a new position in shares of Datadog during the third quarter valued at about $33,000. Finally, Blue Trust Inc. bought a new stake in shares of Datadog in the second quarter worth about $37,000. Institutional investors own 78.29% of the company’s stock.

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.