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 shares were sold at an average price of $118.24, for a total transaction of $1,739,310.40. Following the completion of the transaction, the chief operating officer now directly owns 198,259 shares of the company's stock, valued at approximately $23,442,144.16. This represents a 6.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $1,823,054.52.

Datadog Stock Performance

Shares of DDOG stock traded up $0.41 during mid-day trading on Friday, reaching $122.16. 4,536,844 shares of the company were exchanged, compared to its average volume of 4,398,951. The business's 50 day simple moving average is $105.14 and its 200 day simple moving average is $124.32. The company has a market capitalization of $42.19 billion, a P/E ratio of 239.53, a P/E/G ratio of 44.03 and a beta of 1.01. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

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

Analyst Ratings Changes

Several brokerages recently weighed in on DDOG. Citigroup cut 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. Scotiabank set a $130.00 price objective on Datadog and gave the stock an "outperform" rating in a report on Wednesday, May 7th. JMP Securities reiterated a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Stifel Nicolaus set a $120.00 target price on shares of Datadog in a research report on Tuesday, May 6th. Finally, Wedbush reduced their price target on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $141.04.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently modified their holdings of DDOG. Goldman Sachs Group Inc. boosted its position in Datadog by 259.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after acquiring an additional 6,250,942 shares during the period. Groupama Asset Managment boosted its stake in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after purchasing an additional 3,993,707 shares in the last quarter. Norges Bank purchased a new position in Datadog during the 4th quarter valued at about $462,910,000. Finally, Brown Advisory Inc. increased its holdings in shares of Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after purchasing an additional 2,654,512 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.