Insider Selling: Datadog, Inc. (NASDAQ:DDOG) General Counsel Sells $294,387.12 in Stock

Datadog, Inc. (NASDAQ:DDOG) General Counsel Kerry Acocella sold 2,452 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the transaction, the general counsel now directly owns 74,421 shares in the company, valued at $8,934,985.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Datadog Stock Up 3.9 %

Datadog stock opened at $130.09 on Friday. The business’s 50-day moving average price is $113.96 and its 200 day moving average price is $119.20. The firm has a market cap of $43.51 billion, a price-to-earnings ratio of 404.44, a price-to-earnings-growth ratio of 28.94 and a beta of 1.11. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Datadog during the 1st quarter valued at about $26,000. SouthState Corp purchased a new stake in shares of Datadog in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Datadog in the fourth quarter valued at approximately $29,000. Blue Trust Inc. acquired a new position in shares of Datadog during the 2nd quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DDOG shares. Barclays reduced their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a research report on Thursday, August 1st. UBS Group raised their price target on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Finally, Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and raised their target price for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Four investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.19.

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.