Datadog (NASDAQ:DDOG) Trading 1.2% Higher – Here’s What Happened

Datadog, Inc. (NASDAQ:DDOG)’s share price was up 1.2% during mid-day trading on Monday . The stock traded as high as $95.88 and last traded at $93.15. Approximately 1,602,967 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 4,313,187 shares. The stock had previously closed at $92.02.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DDOG shares. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 price objective (down from $150.00) on shares of Datadog in a research note on Monday, April 7th. Cantor Fitzgerald started coverage on Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target on the stock. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Citigroup dropped their target price on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $153.41.

Datadog Price Performance

The business has a 50 day moving average price of $109.98 and a 200 day moving average price of $128.77. The stock has a market capitalization of $31.72 billion, a PE ratio of 181.47, a PEG ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, equities analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $53,103,862.98. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 548,756 shares of company stock worth $62,219,250. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the 4th quarter worth approximately $30,000. Avior Wealth Management LLC grew its stake in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the last quarter. Putney Financial Group LLC purchased a new position in shares of Datadog during the fourth quarter valued at $32,000. Elequin Capital LP bought a new position in Datadog in the fourth quarter worth approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Datadog by 74.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company’s stock worth $38,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

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.