Datadog (NASDAQ:DDOG) Shares Gap Down to $126.97

Datadog, Inc. (NASDAQ:DDOG - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $126.97, but opened at $113.26. Datadog shares last traded at $113.19, with a volume of 5,797,238 shares traded.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $150.00 price target on shares of Datadog in a report on Wednesday, April 17th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $150.00 target price on shares of Datadog in a research report on Friday, February 23rd. Citigroup upped their price target on Datadog from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, January 22nd. Wells Fargo & Company upgraded Datadog from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Finally, William Blair reaffirmed an "outperform" rating on shares of Datadog in a research note on Friday, February 16th. Five 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.04.

Datadog Stock Down 11.5 %

The stock has a market cap of $37.30 billion, a P/E ratio of 936.67 and a beta of 1.14. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm's fifty day moving average is $124.57 and its 200 day moving average is $119.16.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $589.65 million during the quarter, compared to analysts' expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm's revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. As a group, equities research analysts forecast that Datadog, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling

In other news, CFO David M. Obstler sold 70,000 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the completion of the transaction, the chief financial officer now owns 275,191 shares of the company's stock, valued at $33,223,809.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 23,924 shares of the business's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the sale, the chief executive officer now owns 337,247 shares of the company's stock, valued at approximately $43,858,972.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David M. Obstler sold 70,000 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company's stock, valued at $33,223,809.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 626,593 shares of company stock valued at $80,422,044. 11.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Atomi Financial Group Inc. acquired a new stake in shares of Datadog in the 1st quarter valued at $356,000. Swiss National Bank boosted its position in Datadog by 2.9% in the first quarter. Swiss National Bank now owns 818,000 shares of the company's stock valued at $101,105,000 after buying an additional 23,100 shares in the last quarter. Forsta AP Fonden grew its stake in Datadog by 34.7% during the first quarter. Forsta AP Fonden now owns 64,100 shares of the company's stock worth $7,923,000 after buying an additional 16,500 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Datadog during the first quarter worth approximately $593,000. Finally, Zevenbergen Capital Investments LLC raised its stake in shares of Datadog by 31.9% in the first quarter. Zevenbergen Capital Investments LLC now owns 218,140 shares of the company's stock valued at $26,962,000 after acquiring an additional 52,735 shares during the last quarter. Institutional investors and hedge funds 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.