Datadog, Inc. (NASDAQ:DDOG) General Counsel Kerry Acocella Sells 5,099 Shares

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) General Counsel Kerry Acocella sold 5,099 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $595,767.16. Following the transaction, the general counsel now owns 115,490 shares in the company, valued at approximately $13,493,851.60. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Datadog Stock Up 0.5%

NASDAQ:DDOG traded up $0.62 during trading hours on Friday, hitting $122.37. 2,236,053 shares of the stock traded hands, compared to its average volume of 4,381,067. The company has a market cap of $42.26 billion, a price-to-earnings ratio of 240.12, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a 50 day moving average price of $104.72 and a 200 day moving average price of $124.61.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating 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 firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same period last year, the firm earned $0.44 EPS. The company's revenue was up 24.6% on a year-over-year basis. Equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

DDOG has been the subject of a number of research reports. Morgan Stanley cut their target price 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. Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price target on shares of Datadog in a report on Wednesday, May 7th. Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Finally, Needham & Company LLC dropped their price target on Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.04.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently made changes to their positions in the business. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after purchasing an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after acquiring an additional 154 shares during the last quarter. Costello Asset Management INC purchased a new position in Datadog during the first quarter valued at $30,000. Putney Financial Group LLC bought a new stake in Datadog in the 4th quarter valued at $32,000. Finally, Elequin Capital LP bought a new stake in Datadog in the 4th quarter valued at $34,000. 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.