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

Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler sold 33,333 shares of Datadog stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total value 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 SEC, which can be accessed through the SEC website.

Datadog Price Performance

Shares of Datadog stock opened at $129.81 on Friday. The stock has a 50-day simple moving average of $114.75 and a 200-day simple moving average of $119.32. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The firm has a market cap of $43.77 billion, a price-to-earnings ratio of 288.47, a P/E/G ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The company 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 company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. As a group, equities research analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current year.

Hedge Funds Weigh In On Datadog

Institutional investors have recently bought and sold shares of the stock. Creative Planning increased its holdings in shares of Datadog by 17.6% during the 3rd quarter. Creative Planning now owns 17,141 shares of the company’s stock valued at $1,972,000 after acquiring an additional 2,563 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Datadog during the third quarter valued at approximately $44,000. Exchange Traded Concepts LLC raised its position in shares of Datadog by 4.7% in the third quarter. Exchange Traded Concepts LLC now owns 29,552 shares of the company’s stock valued at $3,400,000 after purchasing an additional 1,316 shares during the period. Inspire Investing LLC lifted its stake in shares of Datadog by 22.0% in the third quarter. Inspire Investing LLC now owns 2,484 shares of the company’s stock worth $286,000 after buying an additional 448 shares during the last quarter. Finally, Covea Finance boosted its holdings in shares of Datadog by 44.8% during the 3rd quarter. Covea Finance now owns 29,400 shares of the company’s stock worth $3,383,000 after buying an additional 9,100 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DDOG. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $115.00 to $140.00 in a report on Tuesday, October 1st. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. BMO Capital Markets reduced their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Barclays dropped their price target on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Four research 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, Datadog has an average rating of “Moderate Buy” and a consensus 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.