Datadog (NASDAQ:DDOG) Trading Down 2.5% on Insider Selling

Datadog, Inc. (NASDAQ:DDOG)’s stock price was down 2.5% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $123.49 and last traded at $123.75. Approximately 388,630 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 3,799,920 shares. The stock had previously closed at $126.88.

Specifically, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $130.39, for a total transaction of $4,346,289.87. Following the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $40,963,061.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the sale, the chief technology officer now directly owns 336,165 shares in the company, valued at approximately $43,476,219.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other Datadog news, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the completion of the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $39,489,660.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several recent research reports. Loop Capital restated a “buy” rating and set a $160.00 target price on shares of Datadog in a report on Friday, July 5th. BMO Capital Markets reduced their price objective on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Barclays decreased their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Wedbush upgraded Datadog to a “strong-buy” rating in a report on Thursday. Finally, Needham & Company LLC decreased their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.11.

Datadog Price Performance

The business’s fifty day moving average price is $116.27 and its 200 day moving average price is $119.42. The stock has a market cap of $43.52 billion, a P/E ratio of 394.44, a PEG ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The business 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 firm’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently modified their holdings of the company. SouthState Corp bought a new position in Datadog in the second quarter valued at about $26,000. Riverview Trust Co acquired a new stake in Datadog during the 1st quarter worth approximately $26,000. Blue Trust Inc. acquired a new stake in Datadog during the 2nd quarter worth approximately $37,000. Versant Capital Management Inc grew its holdings in Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after acquiring an additional 210 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.