Datadog (NASDAQ:DDOG) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) shares saw unusually-high trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 2,679,707 shares traded hands during mid-day trading, a decline of 39% from the previous session's volume of 4,377,490 shares.The stock last traded at $103.14 and had previously closed at $105.70.

The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DDOG. Royal Bank of Canada reaffirmed an "outperform" rating and set a $119.00 target price on shares of Datadog in a research report on Wednesday. Wolfe Research downgraded shares of Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Macquarie lowered their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday. Needham & Company LLC cut their price target on shares of Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities decreased their price objective on shares of Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Datadog currently has a consensus rating of "Moderate Buy" and an average target price of $141.54.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the sale, the chief executive officer now owns 563,598 shares of the company's stock, valued at $49,219,013.34. This trade represents a 16.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amit Agarwal sold 10,167 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $115.86, for a total value of $1,177,948.62. Following the transaction, the director now directly owns 82,324 shares of the company's stock, valued at $9,538,058.64. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 559,867 shares of company stock valued at $57,550,902 in the last three months. Company insiders own 11.78% of the company's stock.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently bought and sold shares of the stock. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog during the 4th quarter worth $30,000. Putney Financial Group LLC bought a new stake in Datadog during the fourth quarter worth about $32,000. Avior Wealth Management LLC boosted its holdings in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares in the last quarter. Elequin Capital LP bought a new position in shares of Datadog during the 4th quarter valued at about $34,000. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after buying an additional 177 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Datadog Trading Down 1.2 %

The company has a market capitalization of $36.98 billion, a PE ratio of 211.53, a PEG ratio of 44.03 and a beta of 1.12. The stock has a fifty day moving average of $100.20 and a two-hundred day moving average of $125.81.

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.