Amit Agarwal Sells 25,000 Shares of Datadog, Inc. (NASDAQ:DDOG) Stock

Datadog, Inc. (NASDAQ:DDOG) Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the completion of the sale, the director now owns 82,324 shares in the company, valued at approximately $9,769,389.08. This represents a 23.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Amit Agarwal also recently made the following trade(s):

• On Wednesday, March 5th, Amit Agarwal sold 25,000 shares of Datadog stock. The shares were sold at an average price of $114.21, for a total transaction of $2,855,250.00.
• On Monday, March 3rd, Amit Agarwal sold 10,167 shares of Datadog stock. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62.

Datadog Price Performance

Shares of DDOG opened at $117.67 on Friday. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a 50-day moving average of $101.10 and a two-hundred day moving average of $125.50. The stock has a market cap of $40.33 billion, a price-to-earnings ratio of 230.73, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 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 6.85% and a return on equity of 8.28%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on DDOG. DA Davidson raised their target price on shares of Datadog from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Needham & Company LLC lowered their target price on shares of Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Canaccord Genuity Group lowered their target price on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Rosenblatt Securities lowered their target price on shares of Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Datadog has an average rating of “Moderate Buy” and an average price target of $141.54.

Institutional Trading of Datadog

Several institutional investors have recently made changes to their positions in DDOG. Goldman Sachs Group Inc. boosted its holdings in shares of Datadog by 259.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company’s stock worth $858,994,000 after purchasing an additional 6,250,942 shares during the period. Groupama Asset Managment boosted its holdings in shares of Datadog by 407.6% during the fourth 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 boosted its holdings in shares of Datadog by 17,477.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after purchasing an additional 3,993,707 shares during the period. Norges Bank acquired a new stake in shares of Datadog during the fourth quarter worth approximately $462,910,000. Finally, Jennison Associates LLC boosted its holdings in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.