Datadog (NASDAQ:DDOG) Shares Gap Down to $130.77

Datadog, Inc. (NASDAQ:DDOG) gapped down before the market opened on Wednesday . The stock had previously closed at $130.77, but opened at $123.50. Datadog shares last traded at $122.50, with a volume of 1,575,278 shares changing hands.

Analyst Ratings Changes

DDOG has been the topic of several recent research reports. Barclays decreased their target price on shares of Datadog from $152.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Needham & Company LLC restated a “buy” rating and set a $165.00 target price on shares of Datadog in a research report on Thursday, June 27th. Baird R W raised shares of Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. Finally, Evercore ISI began coverage on shares of Datadog in a research note on Monday. They set an “outperform” rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.21.

Datadog Stock Down 7.5 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The business’s 50 day simple moving average is $120.97 and its 200 day simple moving average is $123.85. The company has a market capitalization of $40.46 billion, a PE ratio of 380.00, a P/E/G ratio of 42.61 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The business had revenue of $611.25 million for the quarter, compared to the consensus estimate of $589.97 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. As a group, analysts anticipate that Datadog, Inc. will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Madre Armelle De sold 1,749 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $109.44, for a total value of $191,410.56. Following the completion of the sale, the insider now owns 93,774 shares in the company, valued at approximately $10,262,626.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The disclosure for this sale can be found here. Insiders sold 881,530 shares of company stock worth $106,911,095 in the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently bought and sold shares of DDOG. Spire Wealth Management raised its position in Datadog by 2,148.5% during the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock worth $694,000 after buying an additional 5,092 shares during the last quarter. Hsbc Holdings PLC raised its position in Datadog by 47.8% during the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock worth $23,505,000 after buying an additional 62,533 shares during the last quarter. Congress Asset Management Co. MA purchased a new position in Datadog during the 1st quarter worth $1,083,000. Massachusetts Financial Services Co. MA raised its position in Datadog by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after buying an additional 651,244 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC raised its position in Datadog by 5.6% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock worth $20,077,000 after buying an additional 8,830 shares during the last quarter. Hedge funds and other institutional investors 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.