Datadog Inc.’s filing revealed that its President Agarwal Amit unloaded Company’s shares for reported $10.6 million on Aug 23. In the deal valued at $94.67 per share,112,000 shares were sold. As a result of this transaction, Agarwal Amit now holds 269,141 shares worth roughly $ 24.92 million.
Then, Agarwal Amit sold 112,000 shares, generating $10,488,177 in total proceeds. Upon selling the shares at $93.64, the President now owns 269,141 shares.
Before that, Agarwal Amit sold 124,000 shares. Datadog Inc. shares valued at $11,179,219 were divested by the President at a price of $90.15 per share. As a result of the transaction, Agarwal Amit now holds 269,141 shares, worth roughly $24.92 million.
TD Cowen initiated its Datadog Inc. [DDOG] rating to an Outperform in a research note published on Friday, August 18, 2023; the price target was $120. PT values the company’s stock at a premium of 22.83 to its Friday closing price.
Price Performance Review of DDOG
On Friday, Datadog Inc. [NASDAQ:DDOG] saw its stock jump 0.82% to $92.60. On the same session, the stock had its day’s lowest price of $91.13, but rose to a high of $94.00. Over the last five days, the stock has lost -1.10%. Datadog Inc. shares have risen nearly 25.99% since the year began. Nevertheless, the stocks have fallen -12.06% over the past one year. While a 52-week high of $118.02 was reached on 07/25/23, a 52-week low of $61.34 was recorded on 01/06/23. SMA at 50 days reached $100.60, while 200 days put it at $82.47. A total of 2.76 million shares were traded, compared to the trading of 3.79 million shares in the previous session.
Levels Of Support And Resistance For DDOG Stock
The 24-hour chart illustrates a support level at 91.15, which if violated will result in even more drops to 89.71. On the upside, there is a resistance level at 94.02. A further resistance level may holdings at 95.45. The Relative Strength Index (RSI) on the 14-day chart is 42.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.15, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.24%. Stochastics %K at 43.76% indicates the stock is a holding.
How much short interest is there in Datadog Inc.?
A steep rise in short interest was recorded in Datadog Inc. stocks on Aug 14, 2023, growing by 0.17 million shares to a total of 10.67 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 10.5 million shares. There was a rise of 1.59%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.88% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.87.
Datadog Inc. [DDOG] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 24,749,751 shares, or roughly 8.35% of the outstanding DDOG shares. In other words, the investor’s shares have risen by 484,689 from its previous 13-F filing of 24265062.0. Additionally, Iconiq Capital LLC increased 114.37% of its stake after which the total value it holdings stand at $1,955,907,270, while BlackRock Fund Advisors added 5.69% of its stake to hold $1.34 billion in the firm. Over the last quarter, Baillie Gifford & Co. purchased 4,296,835 shares of Datadog Inc., while WCM Investment Management LLC bought 1,446,993 shares. At present, T. Rowe Price Associates, Inc. is holding 5,905,685 shares valued at $689.31 million. Voya Investment Management Co. LL owned 5,618,308 shares of the company at the time of its most recent 13F filing, worth $655.77 million.
According to FactSet, Datadog Inc.’s share price will average $106.87 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.32 percent from its previous closing price of $91.85. Analysts expect Datadog Inc. stock to reach the higher price of $135.00, while the lowest price estimate is $70.00. However, 39 analysts have rated DDOG stock as an Overweight in their predictions for 2023.