Datadog (NASDAQ:DDOG) Stock Price Down 1.2% - Here's What Happened

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) fell 1.2% on Wednesday . The company traded as low as $99.27 and last traded at $101.04. 588,169 shares were traded during trading, a decline of 86% from the average session volume of 4,332,903 shares. The stock had previously closed at $102.31.

Wall Street Analyst Weigh In

Several research firms have commented on DDOG. Macquarie reissued an "outperform" rating and set a $200.00 price target on shares of Datadog in a research report on Tuesday, February 11th. Barclays lowered their target price on shares of Datadog from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They set an "overweight" rating and a $180.00 price target on the stock. Scotiabank decreased their price objective on Datadog from $155.00 to $125.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 15th. Finally, Citigroup reduced their target price on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.33.

Datadog Stock Down 1.1 %

The company has a market cap of $34.68 billion, a PE ratio of 198.38, a P/E/G ratio of 44.03 and a beta of 1.20. The stock has a 50-day simple moving average of $101.72 and a 200 day simple moving average of $126.95.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amit Agarwal sold 10,167 shares of the company'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 sale, the director now owns 82,324 shares in the company, valued at approximately $9,538,058.64. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 512,561 shares of company stock valued at $57,166,767. 11.78% of the stock is currently owned by company insiders.

Institutional Trading of Datadog

A number of large investors have recently made changes to their positions in the company. LBP AM SA grew its holdings in Datadog by 40.2% during the 1st quarter. LBP AM SA now owns 419,805 shares of the company's stock worth $41,649,000 after acquiring an additional 120,343 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Datadog by 5.9% during the first quarter. Linden Thomas Advisory Services LLC now owns 12,549 shares of the company's stock worth $1,245,000 after purchasing an additional 695 shares in the last quarter. Robocap Asset Management Ltd increased its holdings in Datadog by 16.8% in the first quarter. Robocap Asset Management Ltd now owns 59,960 shares of the company's stock valued at $5,949,000 after buying an additional 8,614 shares during the last quarter. Finally, Exane Asset Management acquired a new stake in Datadog in the first quarter valued at $3,531,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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