Datadog (NASDAQ:DDOG) Stock Price Down 2.5% After Insider Selling

Shares of Datadog, Inc. (NASDAQ:DDOG) traded down 2.5% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $123.49 and last traded at $123.75. 388,630 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 3,799,920 shares. The stock had previously closed at $126.88.

Specifically, CFO David M. Obstler sold 33,333 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $40,963,061.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the transaction, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the completion of the transaction, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at $39,489,660.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DDOG shares. BMO Capital Markets dropped their price objective on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. BNP Paribas started coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Barclays lowered their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Scotiabank lowered their target price on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.11.

Datadog Stock Performance

The stock has a market cap of $42.22 billion, a price-to-earnings ratio of 394.44, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. The business’s fifty day simple moving average is $116.27 and its 200 day simple moving average is $119.42.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the previous year, the business posted $0.36 EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. As a group, analysts forecast that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Datadog

Institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Datadog in the 1st quarter worth $26,000. SouthState Corp acquired a new stake in shares of Datadog in the 2nd quarter valued at about $26,000. Blue Trust Inc. acquired a new stake in shares of Datadog in the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC raised its stake in shares of Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in shares of Datadog in the 3rd quarter valued at about $39,000. 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.