Gaucho mentioned DDOG’s lockup expiring on March 17th in his thread above. However, after doing a little digging it actually looks like it will be tomorrow based on this DDOG filing from December:
Filing was part of the notification of having met their 33% increase threshhold that led to 20% of locked up shares being released early (Dec 9). As the filing states, “because the Company expects to be in its standard trading black-out period on that date, all remaining shares are expected to be released from the lock-up and eligible for immediate sale in the public market at the open of trading on March 9, 2020”.
Total outstanding shares are 62M; closely held shares now being released looks to be around 19M, assuming 80% of original 24M locked up.
It should be interesting how many shares change hands the next week or two; I’m hoping we end up back in the upper $30S so I can pick more up.
My mistake - total outstanding shares are actually 297M. Not a huge number of new shares available but could still impact Share prices some in coming weeks.
The final lockup expiration should be pretty much a non event for Datadog shares. The 20% that were unlocked for insiders in December amounts to over two billion dollars in tradable stock, but so far insider sales total less than a hundred million dollars… Sure the number of tradable shares will increase by over three fold tomorrow, but that doesn’t mean insiders will suddenly go on a selling spree (they already have plenty of tradable shares and are being fairly conservative).
Well, it certainly feels like they are selling today, doesn’t it?
Yes, Naj, it does feel like everyone is selling the last couple days! And I picked up my first batch of DDOG today, thank you very much! Have also added to TTD and LVGO so far, today.
In what could end up having been some fortunate timing (only time will tell), I recently have my entire 401k rollover from my last job to invest, and have been doing so. When I moved it in, it popped my cash to close to 40% for my self-managed portfolio. It’s now down under 35% with what I’ve already invested from it, and looking for continued opportunities going forward, and today seems Like an opportune day!