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Amit Agarwal, a director at Datadog, Inc. (NASDAQ:DDOG), sold shares worth approximately $2.99 million, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on June 11, involved the sale of 25,000 shares of Class A Common Stock at prices ranging from $118.69 to $120.40 per share. The sale comes as Datadog, currently valued at $41.5 billion, maintains impressive gross profit margins of 80% and receives strong analyst support with a "Buy" consensus. According to InvestingPro analysis, the stock appears to be trading near its Fair Value, with analysts setting price targets between $115 and $200.
Following these sales, Agarwal now holds 54,356 shares directly. The sales were conducted under a 10b5-1 trading plan, a prearranged trading strategy that allows company insiders to sell a predetermined number of shares at a set time to avoid concerns about insider trading.
This activity is part of a series of transactions by Agarwal, who also reported stock conversions and acquisitions earlier in the month. However, these did not involve direct financial exchanges and were primarily internal adjustments.
In other recent news, Datadog has been the focus of several analyst updates following its DASH user conference. Cantor Fitzgerald reiterated its Overweight rating with a price target of $134.00, citing Datadog’s strong innovation and new product releases, particularly those built on its Bits AI platform. BNP Paribas (OTC:BNPQY) Exane also maintained an outperform rating and set a $150.00 price target, highlighting customer excitement over Datadog’s Agentic AI capabilities and the potential market share gains from its On-call product.
Wolfe Research upgraded Datadog from Peerperform to Outperform, setting a price target of $150.00. The upgrade was influenced by positive feedback from the DASH conference and the growing number of AI companies using Datadog’s services. UBS raised its price target to $140.00 from $125.00, maintaining a Buy rating based on favorable customer feedback on Datadog’s emerging products, despite mixed reviews on core usage growth.
Additionally, Stifel reiterated a Hold rating with a $120.00 price target, focusing on Datadog’s generative AI expansions and new monitoring solutions unveiled at the conference. Overall, these developments reflect a positive outlook from analysts, with many emphasizing Datadog’s innovation and potential for market share growth.
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