Datadog (NASDAQ:DDOG) Reaches New 52-Week Low on Insider Selling

Datadog, Inc. (NASDAQ:DDOG)’s share price hit a new 52-week low on Thursday following insider selling activity. The stock traded as low as $98.73 and last traded at $99.22, with a volume of 2794102 shares changing hands. The stock had previously closed at $102.03.

Specifically, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares of the company’s stock, valued at $18,966,276.84. The trade was a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Barclays cut their target price on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Loop Capital boosted their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Finally, DA Davidson boosted their price objective on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Stock Performance

The firm’s 50-day moving average is $130.81 and its 200 day moving average is $131.12. The firm has a market capitalization of $34.89 billion, a PE ratio of 199.61, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently made changes to their positions in DDOG. ARK Investment Management LLC lifted its holdings in Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock valued at $18,188,000 after purchasing an additional 49,050 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock valued at $7,590,000 after purchasing an additional 30,998 shares in the last quarter. Atom Investors LP purchased a new position in Datadog in the 3rd quarter valued at about $1,112,000. Finally, Parnassus Investments LLC lifted its holdings in Datadog by 28.4% in the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after purchasing an additional 40,952 shares in the last quarter. 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.