Datadog, Inc. (NASDAQ:DDOG) Director Sells $2,986,500.00 in Stock

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $119.46, for a total value of $2,986,500.00. Following the completion of the sale, the director now owns 54,356 shares in the company, valued at approximately $6,493,367.76. The trade was a 31.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, May 28th, Amit Agarwal sold 25,000 shares of Datadog stock. The shares were 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 1.2%

Shares of NASDAQ DDOG traded up $1.48 during midday trading on Monday, reaching $121.93. 3,302,993 shares of the company were exchanged, compared to its average volume of 4,397,978. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a fifty day simple moving average of $108.71 and a 200 day simple moving average of $122.94. The stock has a market cap of $42.11 billion, a P/E ratio of 239.08, a PEG ratio of 44.03 and a beta of 1.01.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same quarter last year, the company posted $0.44 earnings per share. The business's revenue was up 24.6% on a year-over-year basis. As a group, analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

DDOG has been the topic of several analyst reports. Needham & Company LLC set a $140.00 price objective on Datadog and gave the company a "buy" rating in a research note on Thursday. Truist Financial dropped their target price on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company dropped their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. UBS Group increased their target price on Datadog from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.25.

Institutional Investors Weigh In On Datadog

Hedge funds have recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new stake in Datadog in the fourth quarter valued at about $32,000. Elequin Capital LP acquired a new stake in Datadog in the fourth quarter valued at about $34,000. Coppell Advisory Solutions LLC lifted its position in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares during the period. Costello Asset Management INC acquired a new stake in Datadog in the first quarter valued at about $30,000. Finally, Summit Securities Group LLC acquired a new stake in Datadog in the fourth quarter valued at about $43,000. Institutional investors and hedge funds 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.