Insider Selling: Datadog, Inc. (NASDAQ:DDOG) Director Sells 23,748 Shares of Stock

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) Director Shardul Shah sold 23,748 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $120.00, for a total transaction of $2,849,760.00. Following the transaction, the director now owns 396,121 shares of the company's stock, valued at approximately $47,534,520. This trade represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Datadog Stock Up 0.1%

Datadog stock traded up $0.16 during mid-day trading on Friday, reaching $121.91. The company had a trading volume of 1,946,943 shares, compared to its average volume of 4,379,778. The company has a 50 day moving average of $104.72 and a 200-day moving average of $124.61. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The firm has a market cap of $42.10 billion, a price-to-earnings ratio of 239.20, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 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 company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same quarter last year, the firm posted $0.44 earnings per share. Datadog's revenue was up 24.6% compared to the same quarter last year. On average, analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Datadog

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Datadog by 3.5% in the first quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company's stock valued at $3,116,487,000 after purchasing an additional 1,058,803 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Datadog by 12.6% in the 1st quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock valued at $1,217,769,000 after buying an additional 1,369,522 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Datadog by 259.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after acquiring an additional 6,250,942 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Datadog by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,729,254 shares of the company's stock valued at $667,611,000 after acquiring an additional 1,261,065 shares during the last quarter. Finally, Groupama Asset Managment lifted its stake in Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Institutional investors own 78.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DDOG shares. Truist Financial lowered their price target on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday, March 31st. Rosenblatt Securities reduced their price objective on shares of Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. DA Davidson upped their target price on shares of Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wedbush cut their price target on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Barclays raised their price objective on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $141.04.

About Datadog

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.