Datadog, Inc. (NASDAQ:DDOG) COO Adam Blitzer Sells 14,710 Shares

Datadog, Inc. (NASDAQ:DDOG) COO Adam Blitzer sold 14,710 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $118.24, for a total value of $1,739,310.40. Following the completion of the sale, the chief operating officer now owns 198,259 shares in the company, valued at $23,442,144.16. The trade was a 6.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, June 2nd, Adam Blitzer sold 15,603 shares of Datadog stock. The stock was sold at an average price of $116.84, for a total value of $1,823,054.52.

Datadog Price Performance

Shares of Datadog stock opened at $122.16 on Friday. The business has a 50 day simple moving average of $105.14 and a two-hundred day simple moving average of $124.53. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The stock has a market capitalization of $42.19 billion, a P/E ratio of 239.53, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd increased its holdings 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 valued at $25,000 after purchasing an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock valued at $30,000 after purchasing an additional 154 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Datadog in the first quarter valued at approximately $30,000. Putney Financial Group LLC acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $32,000. Finally, Elequin Capital LP acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays upped their target price on Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. DA Davidson upped their target price on Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Canaccord Genuity Group lowered their target price on Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Citigroup lowered their target price on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Morgan Stanley lowered their price target on Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.04.

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.