Datadog (NASDAQ:DDOG) Trading 0.6% Higher - Here's Why

Shares of Datadog, Inc. (NASDAQ:DDOG - Get Free Report) shot up 0.6% on Tuesday . The stock traded as high as $102.86 and last traded at $102.39. 387,103 shares were traded during mid-day trading, a decline of 91% from the average session volume of 4,332,447 shares. The stock had previously closed at $101.74.

Analysts Set New Price Targets

Several analysts have issued reports on DDOG shares. DA Davidson dropped their target price on Datadog from $165.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Rosenblatt Securities boosted their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Wolfe Research cut shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. Finally, 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. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $150.33.

Datadog Price Performance

The stock has a market capitalization of $35.18 billion, a price-to-earnings ratio of 201.10, a PEG ratio of 44.03 and a beta of 1.20. The firm's fifty day moving average is $102.20 and its 200-day moving average is $127.12.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares in the company, valued at $49,219,013.34. This trade represents a 16.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 512,561 shares of company stock worth $57,166,767 in the last quarter. 11.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in Datadog in the 4th quarter valued at about $14,884,000. ARK Investment Management LLC raised its stake in shares of Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock valued at $18,188,000 after acquiring an additional 49,050 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after acquiring an additional 30,998 shares during the last quarter. Baillie Gifford & Co. boosted its position in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Datadog by 3.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock worth $10,358,000 after purchasing an additional 2,451 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

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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