Datadog, Inc. (NASDAQ:DDOG) Director Amit Agarwal Sells 23,058 Shares

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) Director Amit Agarwal sold 23,058 shares of Datadog stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the completion of the sale, the director now owns 31,298 shares in the company, valued at approximately $4,095,969.26. This trade represents a 42.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Amit Agarwal also recently made the following trade(s):

• On Wednesday, June 11th, Amit Agarwal sold 25,000 shares of Datadog stock. The stock was sold at an average price of $119.46, for a total transaction of $2,986,500.00.
• On Wednesday, May 28th, Amit Agarwal sold 25,000 shares of Datadog stock. The stock was sold at an average price of $117.02, for a total value of $2,925,500.00.
• On Wednesday, May 14th, Amit Agarwal sold 25,000 shares of Datadog stock. The shares were sold at an average price of $118.67, for a total value of $2,966,750.00.

Datadog Trading Up 0.7%

Shares of NASDAQ:DDOG traded up $0.88 during midday trading on Thursday, reaching $131.12. 3,881,401 shares of the company's stock were exchanged, compared to its average volume of 4,434,815. The stock has a market cap of $45.28 billion, a price-to-earnings ratio of 285.05, a P/E/G ratio of 72.37 and a beta of 1.01. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm's 50 day simple moving average is $113.64 and its two-hundred day simple moving average is $121.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. Datadog's revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of research analyst reports. Scotiabank set a $130.00 price target on Datadog and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $119.00 target price on shares of Datadog in a report on Wednesday, May 7th. Canaccord Genuity Group reduced their target price on shares of Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price target on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $143.03.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in Datadog by 259.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after purchasing an additional 6,250,942 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after buying an additional 5,299,688 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after buying an additional 3,993,707 shares during the period. Norges Bank acquired a new position in Datadog during the 4th quarter worth about $462,910,000. Finally, Brown Advisory Inc. boosted its holdings in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after acquiring an additional 2,654,512 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Company Profile

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.

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