Insider Selling: Datadog, Inc. (NASDAQ:DDOG) COO Sells 14,710 Shares of Stock

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) COO Adam Blitzer sold 14,710 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $118.24, for a total value of $1,739,310.40. Following the completion of the transaction, the chief operating officer now directly owns 198,259 shares in the company, valued at approximately $23,442,144.16. This represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Adam Blitzer also recently made the following trade(s):

• On Monday, June 2nd, Adam Blitzer sold 15,603 shares of Datadog stock. The shares were sold at an average price of $116.84, for a total transaction of $1,823,054.52.

Datadog Trading Up 0.5%

Shares of NASDAQ DDOG traded up $0.62 during trading hours on Friday, reaching $122.37. The stock had a trading volume of 2,236,053 shares, compared to its average volume of 4,381,067. The business's fifty day moving average price is $104.72 and its two-hundred day moving average price is $124.61. The firm has a market cap of $42.26 billion, a price-to-earnings ratio of 240.12, 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 issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same period in the prior year, the business earned $0.44 EPS. The firm's quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Datadog from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Scotiabank set a $130.00 price objective on Datadog and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Rosenblatt Securities decreased their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $141.04.

Hedge Funds Weigh In On Datadog

Hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its position in shares of Datadog by 14.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,214 shares of the company's stock valued at $888,000 after buying an additional 764 shares during the last quarter. Brighton Jones LLC bought a new position in shares of Datadog during the 4th quarter worth approximately $209,000. Caprock Group LLC lifted its position in Datadog by 4.3% during the fourth quarter. Caprock Group LLC now owns 4,156 shares of the company's stock valued at $594,000 after acquiring an additional 173 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Datadog by 4.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,938 shares of the company's stock valued at $1,277,000 after acquiring an additional 369 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Datadog by 89.0% in the fourth quarter. DAVENPORT & Co LLC now owns 3,868 shares of the company's stock worth $553,000 after purchasing an additional 1,821 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

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.