Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler Sells 33,333 Shares

Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the transaction, the chief financial officer now owns 314,158 shares in the company, valued at approximately $39,489,660.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Datadog Stock Up 3.9 %

Datadog stock opened at $130.09 on Friday. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The firm has a fifty day moving average of $113.96 and a 200-day moving average of $119.20. The firm has a market capitalization of $43.51 billion, a P/E ratio of 404.44, a PEG ratio of 28.94 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, research analysts expect that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DDOG shares. UBS Group boosted their price target on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. BMO Capital Markets decreased their price objective on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. Scotiabank decreased their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, August 9th. Finally, Needham & Company LLC decreased their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SouthState Corp purchased a new position in shares of Datadog in the second quarter valued at $26,000. Riverview Trust Co purchased a new position in shares of Datadog in the first quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Datadog in the fourth quarter valued at $29,000. Blue Trust Inc. purchased a new position in shares of Datadog in the second quarter valued at $37,000. Finally, Versant Capital Management Inc boosted its stake in shares of Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.