Insider Selling: Datadog, Inc. (NASDAQ:DDOG) Director Sells $2,849,760.00 in Stock

Datadog, Inc. (NASDAQ:DDOG) Director Shardul Shah sold 23,748 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $120.00, for a total value of $2,849,760.00. Following the completion of the sale, the director now owns 396,121 shares in the company, valued at approximately $47,534,520. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Datadog Trading Up 0.3%

Shares of NASDAQ:DDOG opened at $122.16 on Friday. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The business’s fifty day simple moving average is $105.14 and its 200-day simple moving average is $124.46. The company has a market capitalization of $42.19 billion, a PE ratio of 239.53, a P/E/G ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.44 EPS. Research analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Institutional Trading of Datadog

Institutional investors have recently made changes to their positions in the business. Putney Financial Group LLC acquired a new stake in shares of Datadog in the 4th quarter worth $32,000. Elequin Capital LP acquired a new stake in shares of Datadog in the 4th quarter worth $34,000. Coppell Advisory Solutions LLC lifted its position in Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after acquiring an additional 177 shares during the period. Costello Asset Management INC acquired a new stake in Datadog during the 1st quarter worth about $30,000. Finally, Summit Securities Group LLC acquired a new stake in Datadog during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reduced their price target on Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $134.00 price target on shares of Datadog in a report on Wednesday, May 7th. Wells Fargo & Company reduced their price target on Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Wedbush reduced their price objective on Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Datadog in a report on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.04.

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.