Insider Selling: Datadog, Inc. (NASDAQ:DDOG) Director Sells 7,916 Shares of Stock

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $120.86, for a total value of $956,727.76. Following the completion of the sale, the director now owns 388,205 shares in the company, valued at approximately $46,918,456.30. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shardul Shah also recently made the following trade(s):

• On Wednesday, June 4th, Shardul Shah sold 23,748 shares of Datadog stock. The shares were sold at an average price of $120.00, for a total value of $2,849,760.00.

Datadog Stock Up 4.2%

Shares of DDOG traded up $5.20 during trading hours on Wednesday, hitting $130.04. The company had a trading volume of 7,579,342 shares, compared to its average volume of 5,072,204. The stock has a market capitalization of $44.91 billion, a price-to-earnings ratio of 282.70, a P/E/G ratio of 67.58 and a beta of 1.01. The firm has a fifty day moving average price of $109.26 and a 200-day moving average price of $122.95. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74.

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. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

DDOG has been the topic of a number of research analyst reports. Scotiabank set a $130.00 price objective on shares of Datadog and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a research note on Thursday, June 12th. Cantor Fitzgerald reiterated an "overweight" rating and set a $134.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Canaccord Genuity Group lowered their price objective on shares of Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Bank of America lifted their price objective on Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Datadog presently has an average rating of "Moderate Buy" and an average price target of $142.52.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC increased its holdings in shares of Datadog by 70.4% in the 1st quarter. Inspire Investing LLC now owns 3,078 shares of the company's stock worth $305,000 after purchasing an additional 1,272 shares in the last quarter. DLD Asset Management LP purchased a new stake in shares of Datadog during the first quarter valued at $1,379,000. Siren L.L.C. increased its holdings in Datadog by 55.9% in the 1st quarter. Siren L.L.C. now owns 47,425 shares of the company's stock worth $4,705,000 after buying an additional 17,000 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Datadog by 17.6% during the first quarter. Geneos Wealth Management Inc. now owns 769 shares of the company's stock valued at $76,000 after purchasing an additional 115 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its holdings in shares of 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 purchasing an additional 1,387 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other 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.

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