Insider Selling: Datadog, Inc. (NASDAQ:DDOG) CRO Sells 2,322 Shares of Stock

Datadog, Inc. (NASDAQ:DDOG) CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the completion of the sale, the executive now owns 183,512 shares of the company’s stock, valued at $22,939,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Datadog Stock Performance

Shares of DDOG stock opened at $129.81 on Friday. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The firm has a market capitalization of $43.77 billion, a PE ratio of 288.47, a P/E/G ratio of 22.85 and a beta of 1.11. The stock’s 50-day simple moving average is $114.75 and its 200-day simple moving average is $119.29.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Congress Asset Management Co. MA acquired a new stake in Datadog during the 1st quarter worth about $1,083,000. Vanguard Group Inc. boosted its stake in shares of Datadog by 0.6% in 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 during the last quarter. Los Angeles Capital Management LLC grew its holdings in Datadog by 9.3% during the first quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company’s stock worth $32,732,000 after acquiring an additional 22,544 shares during the period. Bank of Montreal Can raised its position in Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after acquiring an additional 344,431 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in Datadog by 1,648.8% in the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after acquiring an additional 4,864 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore ISI began coverage on shares of Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target for the company. BNP Paribas assumed coverage on Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price for the company. DA Davidson upgraded Datadog from a “neutral” rating to a “buy” rating and lifted their price target for the company from $115.00 to $140.00 in a report on Tuesday, October 1st. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research note on Thursday, August 1st. Finally, Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.