Datadog (NASDAQ:DDOG) Trading Down 5.2% – Should You Sell?

Datadog, Inc. (NASDAQ:DDOG) dropped 5.2% during trading on Friday . The company traded as low as $86.57 and last traded at $89.55. Approximately 2,073,467 shares traded hands during trading, a decline of 51% from the average daily volume of 4,208,198 shares. The stock had previously closed at $94.47.

Wall Street Analyst Weigh In

DDOG has been the topic of several research reports. DA Davidson boosted their price target on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Cantor Fitzgerald started coverage on shares of Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and lowered their price target for the company from $165.00 to $140.00 in a report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. Finally, Mizuho boosted their target price on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $157.22.

Datadog Price Performance

The company has a market cap of $30.14 billion, a PE ratio of 172.42, a PEG ratio of 44.03 and a beta of 1.20. The business’s fifty day simple moving average is $119.52 and its two-hundred day simple moving average is $130.33.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total value of $3,528,000.00. Following the completion of the transaction, the director now directly owns 195,667 shares of the company’s stock, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock valued at $75,444,584 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its position in Datadog by 3.5% during the third quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company’s stock worth $1,746,000 after acquiring an additional 511 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Datadog by 16.5% during the 3rd quarter. Captrust Financial Advisors now owns 9,513 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,349 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Datadog by 78,000.0% in the third quarter. Benjamin Edwards Inc. now owns 2,343 shares of the company’s stock valued at $270,000 after purchasing an additional 2,340 shares in the last quarter. Hilltop Holdings Inc. acquired a new stake in shares of Datadog in the third quarter valued at approximately $291,000. Finally, Janus Henderson Group PLC lifted its position in Datadog by 29.8% during the third quarter. Janus Henderson Group PLC now owns 22,851 shares of the company’s stock worth $2,629,000 after buying an additional 5,252 shares in the last quarter. 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.