Datadog, Inc. (NASDAQ:DDOG) Director Shardul Shah Sells 15,832 Shares

Datadog, Inc. (NASDAQ:DDOG) Director Shardul Shah sold 15,832 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Datadog Trading Up 3.9 %

DDOG stock opened at $130.09 on Friday. The stock’s fifty day simple moving average is $113.96 and its two-hundred day simple moving average is $119.20. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The stock has a market cap of $43.51 billion, a P/E ratio of 404.44, a P/E/G ratio of 28.94 and a beta of 1.11.

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

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after buying an additional 171,693 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after buying an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. grew its position in Datadog by 5.9% during the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after buying an additional 138,700 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Datadog by 19.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after buying an additional 172,887 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of Datadog in the 1st quarter worth about $116,054,000. 78.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on DDOG. DA Davidson upgraded shares of Datadog from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $115.00 to $140.00 in a research note on Tuesday, October 1st. Barclays decreased their price target on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Scotiabank decreased their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Evercore ISI assumed coverage on shares of Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target of $141.19.

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.