Datadog, Inc. (NASDAQ:DDOG) CFO Sells $4,110,878.40 in Stock

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) CFO David M. Obstler sold 35,016 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the transaction, the chief financial officer now owns 399,270 shares of the company's stock, valued at approximately $46,874,298. The trade was a 8.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Datadog Stock Performance

DDOG traded up $0.41 on Friday, reaching $122.16. The company had a trading volume of 4,536,844 shares, compared to its average volume of 4,397,491. The business has a 50 day simple moving average of $105.14 and a 200 day simple moving average of $124.53. The company has a market cap of $42.19 billion, a price-to-earnings ratio of 239.53, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Stifel Nicolaus set a $120.00 price target on shares of Datadog in a research report on Tuesday, May 6th. Morgan Stanley reduced their price target on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Wolfe Research lowered shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Wedbush cut their target price on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company cut their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.04.

Institutional Trading of Datadog

Several large investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC boosted its holdings in Datadog by 70.4% in the first quarter. Inspire Investing LLC now owns 3,078 shares of the company's stock valued at $305,000 after acquiring an additional 1,272 shares in the last quarter. DLD Asset Management LP bought a new stake in Datadog in the first quarter valued at $1,379,000. Siren L.L.C. boosted its holdings in Datadog by 55.9% in the first quarter. Siren L.L.C. now owns 47,425 shares of the company's stock valued at $4,705,000 after acquiring an additional 17,000 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Datadog by 17.6% in the first quarter. Geneos Wealth Management Inc. now owns 769 shares of the company's stock valued at $76,000 after acquiring an additional 115 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in Datadog by 2.8% during the first quarter. IFM Investors Pty Ltd now owns 50,669 shares of the company's stock valued at $5,027,000 after buying an additional 1,387 shares during the period. Institutional investors 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.