Adam Blitzer Sells 15,603 Shares of Datadog, Inc. (NASDAQ:DDOG) Stock

Datadog, Inc. (NASDAQ:DDOG) COO Adam Blitzer sold 15,603 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $1,823,054.52. Following the sale, the chief operating officer now directly owns 212,969 shares in the company, valued at $24,883,297.96. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Adam Blitzer also recently made the following trade(s):

• On Tuesday, June 3rd, Adam Blitzer sold 14,710 shares of Datadog stock. The shares were sold at an average price of $118.24, for a total value of $1,739,310.40.

Datadog Trading Up 0.3%

NASDAQ:DDOG opened at $122.16 on Friday. The stock has a market cap of $42.19 billion, a P/E ratio of 239.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The stock’s 50-day moving average is $105.14 and its 200-day moving average is $124.53. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, equities analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. DA Davidson raised their price target on Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Morgan Stanley decreased their target price on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus set a $120.00 price target on shares of Datadog in a report on Tuesday, May 6th. Truist Financial reduced their price target on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Finally, Scotiabank set a $130.00 price objective on shares of Datadog and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $141.04.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Datadog by 887.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after acquiring an additional 22,646 shares during the period. Cornerstone Planning Group LLC lifted its stake in shares of Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock worth $30,000 after acquiring an additional 154 shares during the period. Costello Asset Management INC acquired a new position in shares of Datadog in the first quarter worth approximately $30,000. Putney Financial Group LLC acquired a new position in shares of Datadog in the fourth quarter worth approximately $32,000. Finally, Elequin Capital LP acquired a new position in shares of Datadog in the fourth quarter worth approximately $34,000. 78.29% of the stock is currently owned by 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.